Dear traders,
the German stock index DAX 30 is testing and breaking the previous highs and double top. Will the bulls be able to break above the resistance during the third attempt?
The DAX 30 uptrend is expected to succeed with the 3rd or even 4th breakout. Letβs review the scenarios:
The bullish breakout is aiming at the -27.2% Fibonacci target at around $16,000 with $15k also being an important round level.
The push up could become choppier and a rising wedge pattern might occur (grey lines). Also a break, pullback towards the broken resistance, and bounce pattern could develop.
The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter.
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