FDAX at significant resistance!
Analysis and price targets for the FDAX - view in the H1 chart
After a range between 15,433 / 15,696 points lasting several days, the FDAX recorded a stronger setback of 2.6 percent last Friday. The tested support level between 15.269 / 15.310 (lower green zone) was successfully defended, after which there was a V-reversal up to the significant resistance area at 15.670 / 15.696 (red zone).
Course objectives on the bottom
Below the aforementioned resistance range and the downward trend line from June 14, the FDAX initially remains short-heavy and trapped in a range with clear boundaries on the top and bottom.
On the bottom, the next price targets are the 38 Fibo level at 15,589 (minimum correction) and the 50 level at 15,548 points (normal correction). This is where the significant support zone and the VPOC (Volume Point of Control) are located. The probability of a new high movement at this level is around 50 percent.
Target areas on the top
If the FDAX is able to move upwards early on, we prefer the 15,763 point mark and the range between 15,793 / 15,806 points as possible price targets on the upside.
Always good trades!
Global Investa
Note:
Despite careful analysis, Global Investa accepts no liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
After a range between 15,433 / 15,696 points lasting several days, the FDAX recorded a stronger setback of 2.6 percent last Friday. The tested support level between 15.269 / 15.310 (lower green zone) was successfully defended, after which there was a V-reversal up to the significant resistance area at 15.670 / 15.696 (red zone).
Course objectives on the bottom
Below the aforementioned resistance range and the downward trend line from June 14, the FDAX initially remains short-heavy and trapped in a range with clear boundaries on the top and bottom.
On the bottom, the next price targets are the 38 Fibo level at 15,589 (minimum correction) and the 50 level at 15,548 points (normal correction). This is where the significant support zone and the VPOC (Volume Point of Control) are located. The probability of a new high movement at this level is around 50 percent.
Target areas on the top
If the FDAX is able to move upwards early on, we prefer the 15,763 point mark and the range between 15,793 / 15,806 points as possible price targets on the upside.
Always good trades!
Global Investa
Note:
Despite careful analysis, Global Investa accepts no liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
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.