GER30/DAX: 4 hour chart - Feb 15th.
GER30 - After previous analysis Feb 2th, DAX was able to test 14131 the all-time high from January 7th and we reached the all-time high of February 8th, at 14169.
Bear scenario:
It is important for bulls that the price zone at 13860 not undercut on a weekly and daily basis. Should this price zone be undercut sustainably, the bears could continue to gain strength and push the bulls back down to 13718 then 13601.
Bull scenario:
If bulls succeed in exceed all time high at 14169 on a daily basis then the first target is at 14294 – 14382. If 14440 is exceeded on a weekly basis then DAX can rise to 14750 and then, after a short pullback, rise to 14970 – 15065.
A bear market is when a market typically fall 20% or more from recent highs.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
Bear scenario:
It is important for bulls that the price zone at 13860 not undercut on a weekly and daily basis. Should this price zone be undercut sustainably, the bears could continue to gain strength and push the bulls back down to 13718 then 13601.
Bull scenario:
If bulls succeed in exceed all time high at 14169 on a daily basis then the first target is at 14294 – 14382. If 14440 is exceeded on a weekly basis then DAX can rise to 14750 and then, after a short pullback, rise to 14970 – 15065.
A bear market is when a market typically fall 20% or more from recent highs.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow
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.