Bulls got into action on this counter in 2019 Aug and really started giving upwards direction to the DAX.
In early Oct, bears tried to pull the price down push the prices down about 6pc over a weeks bearishness action, but the bulls came back with more vigor and stronger, making higher highs and higher lows. However, by the end of the month of Oct, over the next 3 weeks, price returned 8% positive returns and made a small support at 12821 levels ( about 4 days of action in quick succession trying to create a base or establishing a support zone)
In the whole month of Nov and Dec, price made a high 13400 levels and found that level to act as a resistance zone. Also, if you note, price tried to test 12821 levels but found support earlier at 12963 levels. Price tested this level and didn’t breach , hence still made higher highs but instead of higher lows, matching lows . As long as the previous loe now established at 12821 is not breached on daily candle, we would hope the price will try and test the upward resistance levels (13545 and 13400 levels)
As we speak, price is trying to establish Support at 13400 levels and has resistance at 13547 and 13649
Since the range is a very narrow one, price may try break on either side and will give us direction!
If you like what you read, please share a thumbs uo
Cheers
In early Oct, bears tried to pull the price down push the prices down about 6pc over a weeks bearishness action, but the bulls came back with more vigor and stronger, making higher highs and higher lows. However, by the end of the month of Oct, over the next 3 weeks, price returned 8% positive returns and made a small support at 12821 levels ( about 4 days of action in quick succession trying to create a base or establishing a support zone)
In the whole month of Nov and Dec, price made a high 13400 levels and found that level to act as a resistance zone. Also, if you note, price tried to test 12821 levels but found support earlier at 12963 levels. Price tested this level and didn’t breach , hence still made higher highs but instead of higher lows, matching lows . As long as the previous loe now established at 12821 is not breached on daily candle, we would hope the price will try and test the upward resistance levels (13545 and 13400 levels)
As we speak, price is trying to establish Support at 13400 levels and has resistance at 13547 and 13649
Since the range is a very narrow one, price may try break on either side and will give us direction!
If you like what you read, please share a thumbs uo
Cheers
Trade active
One could look to short DAX at these levels 13335, resistane at 133405. take profit 13148
If you love what you see, pls share a thumbs up and a comment in the section below
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
If you love what you see, pls share a thumbs up and a comment in the section below
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.