Given that DAX has now shifted above its short-term downside resistance line, it increases the chance for the index to travel further up. Looking at the 4-hour chart, we can see that the 200 EMA has held the price down and currently acts somewhat as a resistance area. At the same time, DAX is currently running above its short-term upside support line, ...
German dax unfolded an EW ending diagonal within a bigger wave, which seems to have found a low at the 10280 level, from where a nice rally is now developing. This rally can be labelled as wave 1, first wave of a bigger upcoming cycle that is expected to unravel five minor legs. At the moment we see a temporary pullback unfolding as part of wave 1, which can face ...
The dax already consulates a long time at the last significant high.
the longer the course consulates, the higher the chances of a breakthrough.
The 200 EMA also serves as support
I'm long at the moment
enjoy the way
This, my custom Global Market Cap Index, is showing very good signs of a market bottom setting up. We still have to wait for this bottom to confirm, but the early indications are that this move lower just before Christmas was likely a "washout" low price rotation that will prompt a decent price bottom setup.
I've been searching through my charts and my other ...
... Before finding a convincing bottom.
Listed Spain, Fance, Germany, Denmark, Sweden and Finland divided by 6 and by euro index.
Not trading advice, just an idea to see new points of view to the situation.
Dax index seems have reached head and shoulder pattern, target area is between horizontal red line, approx 10200/10300 point of index. If you look at MACD indicator point A and B marked in red are approximatively at the same level. A rebound may happen, we are at the same MACD position since February 16th, 2016 where dax reached a significant low. So, Price have ...