Pattern – Range – diagonal consolidation pattern Possible targets – Upside, 15,985 – 16,160; Downside, 15,718 – 15,530 Support – 15,740 Resistance – 15,965
Hi, and thanks for looking at today's update. Our focus is on the GER30 as price sits in a range but has also formed a wedge/diagonal pattern that could signify movement to come. It's an interesting set-up as even if we see a break of the pattern price still has the range to contend with.
US futures are lower, and we are seeing the GER30 lower at this stage, so could we see a move lower today? If so, sellers will need to break support to get a breakout really going. On the other hand, buyers will need to do the same to resistance to get their move going.
US Retail Sales could play a part. It’s due today at 10:30 pm AEST (8:30 am EST)
Thanks for stopping by. Good trading, and have a great day.
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.