Support held prices above 12,000. Resistance likely to be found at 12,750 which marks the floor pre February sell-off, and the high last April i.e. a key trading level. The 12,750 would also be the 50 Day MA if met within the next two weeks. With the level then back in-line with the 50 Day MA, it would no longer be oversold.
For DAX, there are 3 possible scenarios:
1st: DAX is in a Impulse Minuette wave 5, which terminates at 13200 as shown in the chart (TP1).
2nd: If wave3 and 4 would be replaced by a 1 and 2 respectively (possible!), wave 3 could stop at TP2 Fib. 1,618 ( 13776) for a standard Extension 3, which is above ATH. A possible time frame could be 2-3 tradingdays.
3rd:...
Implications and Outlook
1. Further short-term bullish momentum likely to hit Index Rally 13075 and perhaps all the way up to next 13405 level.
2. The break of one of the Rallies will undoubtedly bring serious of the short-term bearish implications, having downside targets to Mean Support 12690 and Key Support of 12422.
3. Current bullish/bearish bias is...
at the chart we have a rising wedge with minor waves and a rising wedge inside the minor wedge with minute waves. break of the red line with the minute waves can lead the price to test the green line with the minor waves. where a break of the minor wedge can lead the price back to between 12.400 and 12.540, where 12.400 is 0.5 on fibonacci levels and 12.540 is...
Hello traders.
DAX has some big potential for downside. As I can see the correction is an expanding flat in 1D timeframe. It can still keep going up because we don't have any divergence in 1H in up impulse. But, when it completes the C wave, it will go down. Of course, there are some other options, so down move can be a correction instead of an impulse. The idea...
It has been really surprise for me.indices going up side without correction.this year jan every indices going upside without correction result sudden crash.same thing happing again.all indices going upside without correction.dax is need a correction it may go up until 13636.it need a small correction min 12736 or else we will see another heavy drop like jan.
Comments on the chart. Please note that at this stage this is one to watch only. There are bullish signs as well on the chart. I love chart patterns and would love to see how this one plays out
