1D Channel Up on DAXDAX remains on the medium term Channel Up on 1D (RSI = 65.938, Highs/Lows = 113.6786), being kept on a consolidation range in an effort to normalize the overbought STOCH, STOCHRSI and Williams numbers. As seen on the chart, 12,919 and 12,854 are the support levels (and long entries) with 13,141 the resistance (and TP). As long as EURUSD keeps falling, DAX will be bearish proof and will at worst trade sideways.
Xetra
Do you like to play with fire?A high risk movement, although it seems to me that going short at this level is quite risky there is a possibility of success.
It seems to me that there is a good chance of touch the level of 11.18 near the 16th of March, or even the historic minimums. But, why does it seem high risk ?. Because we are too close to historical minimums and if that were not enough, at this moment the price is sitting on the R & S, which is usually a very good support, and could cause the price to bounce from here.
In case the movement was correct there is a very high chance of a rebound after touching 11.18 and not retesting the historical minimum.
This is what I see in the chart, and obviously I'm not giving any kind of advice, just sharing what I think ... let's see how it develops.