DAX is on the 8th straight sideways 1D candle as it found Support on the bottom (Higher Lows trend-line) of the long-term Bullish Megaphone pattern. The 1D MA50 (blue trend-line) is the short-term Resistance while the price is trading around the 1D MA100 (green trend-line) as pivot.
We are bullish, targeting the Internal Higher Highs trend-line at 17000, as long...
Still two scenarios in play. The bullish scenario (in green) shows an ending wave 2 down that will be followed by a wave 3 up. The bearish scenario (in red) assumes more downside to finish a wave C and a higher degree wave (4).
In the higher timeframe, we expect a bit more upside as a wave (5) to finish the higher level wave ((1)). This wave ((1)) should be followed by a wave ((2)) to the downside which is an interesting buying opportunity for investors.
Trend Bullish
CB’s bank lending survey reveals signs of concern in the credit market
DAX technical levels of interest – prices remain elevated but waning volatility and momentum hint at a propensity for sideways trading to come
A break above 16383 pushes DAX40 to achieve potentially possible 23850
A break below 11950 is the beginning of the Bearish trend(red...
Ger30 creating short term trading opportunity if price breaks lower to 15750.00 key level then price should create a 250 point = 2500 pips trade building momentum from the daily timeframe.
Still two scenarios in play. The bullish scenario (in green) shows an ending wave 2 down that will be followed by a wave 3 up. The bearish scenario (in red) assumes more downside to finish a wave C and a higher degree wave (4).
broadening top is a technical analysis chart pattern that is characterized by a series of higher highs and lower lows, which creates a widening channel on the chart. This pattern is often seen as a bearish reversal pattern, as it suggests that the trend is losing momentum and is likely to reverse.
GER40 - 24h expiry
A break of bespoke resistance at 16000, and the move higher is already underway.
Trading close to the psychological 16000 level.
16000 has been pivotal.
Prices have reacted from 15704.
Daily signals are bullish.
The bias is to break to the upside.
We look to Buy a break of 16013 (stop at 15913)
Our profit targets will be 16263 and...
Pivot: 15885.00
Our preference:
long positions above 15885.00 with targets at 16050.00 & 16120.00 in extension.
Alternative scenario:
below 15885.00 look for further downside with 15830.00 & 15770.00 as targets.
Comment:
the RSI lacks momentum.
Still two scenarios in play. The bullish scenario (in green) shows an ending wave 2 down that will be followed by a wave 3 up. The bearish scenario (in red) assumes more downside to finish a wave C and a higher degree wave (4).
Algo levels worked almost perfectly for DAX yesterday () as it rallied from the start, hitting the first resistance, before pulling back to the PZ and continuing higher. If US indices looks weak, DAX paints a more hopeful picture, looking somewhat supported but of course CPI today (which I think would move the market given how market is sideways these few days),...
As predicted some time ago
DAX 40 broke 16300
Now....
I have marked the next levels for you
Use proper stop
European stocks rose on Thursday, and Germany's DAX 40 index climbed nearly 1% to touch its highest level since January 2022, driven by the optimism surrounding the potential breakthrough in US debt ceiling talks, with expectations that a resolution...
With the DAX making all time highs and now creating new levels of support, the best we can do is work with previous levels. When an instrument is making ATH's it is difficult to chart exactly where the next level of resistance will be, as it is all untested area and it's up to the market to decide just how overbought it really is before we can move down.
Looking...
Still two scenarios in play. The bullish scenario (in green) shows an ending wave 2 down that will be followed by a wave 3 up. The bearish scenario (in red) assumes more downside to finish a wave C and a higher degree wave (4).
