Dax for 18 K - Inverted Cup and Handle
Dax is in a downtrend after rejection from 19K .
Price can be seen to be in the midst of forming and Inverted Cup and Handle structure, with resistance offered by Fan 2.
The Inverted Cup and Handle, if formed, suggests continuation of the downtrend.
The likely target is at 18 K. Here , structure can act as resistance. It is confluent to the Fibonacci .50 level.
The RSI printing in the Sell Zone.
The Bias at present is short.
Price can be seen to be in the midst of forming and Inverted Cup and Handle structure, with resistance offered by Fan 2.
The Inverted Cup and Handle, if formed, suggests continuation of the downtrend.
The likely target is at 18 K. Here , structure can act as resistance. It is confluent to the Fibonacci .50 level.
The RSI printing in the Sell Zone.
The Bias at present is short.
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