Price has since shown a retracement again from the most recent higher high created above the 13500 resistance. Price has since come back down to the 20 EMA and has printed a small bullish rejection as highlighted in the yellow circle. From here we could see price rally to the upside printing a further new higher low.
If price breaks above the -27.2% extension we will be looking for a new higher high at the -61.8% Fibonacci resistance area @ 13852.
Major bull target is seen at the highest Fibo retracement at 13852.
Chart: DAX, D1
It's bearish for now.
ReplyDeleteWill keep in mind your analysis.
ReplyDeleteVery detailed assessment as always.
ReplyDeleteVery good analysis.
ReplyDeleteThank you for the analysis I'll keep an eye on DAX.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteGreat post! I fully agree with your view.
ReplyDeleteThanks for the post.
ReplyDelete