DAX Bulls are Waiting for a Retest-Continuation

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

the DAX is currently in uptrend. W pattern has broken the resistance and we should see continuation of a bullish trend.

38.2 fib is in a confluence with W H3 and a previous top. If the price retests the breakout point (red line) we should see a continuation. W pattern could also be Adam & Adam pattern as it has wicks at the bottom. Targets are 13335, 13396 and 13542. If the price goes below the POC zone watch for 78.6 and 88.6 for buying.

The Analysis has been done with the CAMMACD.Core

Good trading,
Nenad Kerkez

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