DAX recoverd but approaching a strong Resistance similar to 2019Very interesting fractal repetition for DAX so far. As the price is approaching the 1W MA100 (green) a typical Support in Bull Markets and Resistance in Bear Markets, we have spotted striking similarities with the 2018/2019 correction. There is a flat Resistance just above the 1W MA100, which in April 2019, as the index recovered from that multi month correction, pushed it back to the 1D MA200 (orange).
Swing traders can wait for the next big entry there, if the pattern continues to repeat that Cycle. The RSI so far tends to agree and shows that weve just started a new multi month recovery phase.
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