I follow these Fibo levels with BIST:XBANK
looks like it is working perfectly until now. there are two critical levels to secure continuing uptrend. 50day MA is working well as a support and resistance. In case the index flexes below 50day MA, Fibo 0.618 looks like a proper support level. I would expect the move to be on the uptrend side as long as 3358 support...
XETR:DAX managed to break its downtrend in daily chart. It will be crucial to see a weekly closing above the line.
Current picture is not suggesting a long entry though. We can see 200day MA closing by and RSI is also at criticals levels where it was challenged and failed before.
Better to sit on hands and see when can we talk about a proper trend.
