DAX: Pull back to the MA50 and then 13,600.
DAX has broken above the 2019 1M Channel Up (RSI = 60.402, MACD = 306.500, Highs/Lows = 928.2857, ADX = 16.738) last week. The 1D RSI has made a peak at 78.000 which is the point where last May (3rd) it made a Higher High and pulled back aggressively.
The January - May sequence has many similarities with the August - today sequence as illustrated on the chart. The most notable of which is the fact that after DAX broke above the 1D MA50 (blue line) it always acted as a Support (bounce long entry). We are expecting a similar price action and after a pull back to the 1D MA50 believe that DAX will resume the uptrend towards the 13,600 All Time High (ATH).
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
The January - May sequence has many similarities with the August - today sequence as illustrated on the chart. The most notable of which is the fact that after DAX broke above the 1D MA50 (blue line) it always acted as a Support (bounce long entry). We are expecting a similar price action and after a pull back to the 1D MA50 believe that DAX will resume the uptrend towards the 13,600 All Time High (ATH).
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.