DE30 Intraday Setup.
Updated
GER30 - Intraday - We look to Sell a break of 12245 (stop at 12371)
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We expect an initial move higher to fail and look to set shorts on a break back through 12250.
Our outlook is bearish.
Trades at the lowest level in 21 weeks.
Bearish divergence is expected to cap gains.
The price is in a bearish wedge formation.
Short term MACD is moving lower.
The bias is to break to the downside.
Our profit targets will be 11906 and 11806
Resistance: 12400 / 12500 / 12600
Support: 12300 / 12200 / 12050
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We expect an initial move higher to fail and look to set shorts on a break back through 12250.
Our outlook is bearish.
Trades at the lowest level in 21 weeks.
Bearish divergence is expected to cap gains.
The price is in a bearish wedge formation.
Short term MACD is moving lower.
The bias is to break to the downside.
Our profit targets will be 11906 and 11806
Resistance: 12400 / 12500 / 12600
Support: 12300 / 12200 / 12050
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