DE30 Sell a Break setup.
Updated
GER30 - Intraday - We look to Sell a break of 14332 (stop at 14401)
Price action has formed an expanding wedge formation.
Short term MACD has turned negative.
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Trend line support is located at 14400.
A break of 14330 is needed to confirm follow through negative momentum.
Our profit targets will be 14124 and 14024
Resistance: 14430 / 14470 / 14500
Support: 14350 / 14300 / 14200
Price action has formed an expanding wedge formation.
Short term MACD has turned negative.
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Trend line support is located at 14400.
A break of 14330 is needed to confirm follow through negative momentum.
Our profit targets will be 14124 and 14024
Resistance: 14430 / 14470 / 14500
Support: 14350 / 14300 / 14200
Order cancelled
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.