Channelling the DAX (UPDATE 2)
Update: A break below 8981 would confirm a short to medium term top for me, as price will also settle back within the main long term rising channel after breaking it earlier. My main target at 8140 major resistance-turned-support level
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Earlier Anlysis( tradingview.com/v/wq6nsIx1/ ): The chart is an illustration of multiple medium to long term potential channels. Are we nearing a long term top? or will break higher and draw a new secular bull trend.
DAX entered a period of sideways correctional bias following my latest update( tradingview.com/v/1iHTlzhA/ ), as price fails so far to decisively break the ceiling of the multiple channels, RSI is showing a clear bearish divergence, price action looks a bit toppy, so are we nearing a medium term top?
twitter.com/thefxchannel
thefxchannel.com
Earlier Anlysis( tradingview.com/v/wq6nsIx1/ ): The chart is an illustration of multiple medium to long term potential channels. Are we nearing a long term top? or will break higher and draw a new secular bull trend.
DAX entered a period of sideways correctional bias following my latest update( tradingview.com/v/1iHTlzhA/ ), as price fails so far to decisively break the ceiling of the multiple channels, RSI is showing a clear bearish divergence, price action looks a bit toppy, so are we nearing a medium term top?
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