DAX Bounce at 88.6 Fib Zone is Expected

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

DAX is close to 88.6 zone and we can see potential for a bounce. Historical buyers are waiting.

12600-12666 is the POC. Looking to the left we can also see historical buyers. This is a confluence of technicals within the POC zone. If the market bounces then watch for 12727 all the way up to 12861. However a break below 12530 will make the DAX bearish and we could see 12291. As long as the market is above 12531, bulls should be safe.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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