DAX Bears Might be Waiting at the POC Zone
Dear traders,
The DAX has been in uptrend as the equities have moved generally higher. However, it is getting closer to important resistance.
W H5 and D H5 are resistance pivot points which also make a strong confluence with 88.6 % fib. 13050-60 zone could reject the price lower. Targets are 12958, 12889 and 12797. If D L5 breaks then the next level will be 12725. However if we see the close above 13065, the price will remain bullish and upward bounce might target 13129.
The Analysis has been done with the Black Widow system.
Good trading,
Nenad Kerkez
