TEC DAX Poised to Break Resistance with Bullish PatternKey observations on the TEC DAX chart:
- Fibonacci resistance on a major timeframe.
- Bullish flag formation .
How these elements interact:
Since peaking in November 2021, TEC DAX has undergone a correction, with the market closely respecting the 61.8% Fibonacci resistance level. This level acts
Bulls dominate the German NASDAQThe TecDAX is something like the German NASDAQ (excuse the insult).
The index was in a downward trend for a long time and has made up a lot of ground in recent months.
Currently, the market is in a consolidation phase.
Between March 2022 and January 2023, an inverse shoulder-head-shoulder formation
"Bollinger bands width"In a monthly chart you can see two curved arrows that indicate a contraction in the Bollinger bands, the average that I use is 5 months, I think and I say that a contraction or expansion of the Bollinger bands just given at that moment of their shrinkage or expansion is where a direction of a market
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Displays a symbol's price movements over previous years to identify recurring trends.