DAX monthly chart hitting fibonacci extension cluster level
The Dax typically leads the Dow to some degree, and has a deeply overbought RSI now at a potential resistance zone
Likely to have a retracement in the short to medium term
Not trading this, but highlighting as it may indicate that other western indices may follow suit and struggle to increase in the next 2-6 months
The Dax typically leads the Dow to some degree, and has a deeply overbought RSI now at a potential resistance zone
Likely to have a retracement in the short to medium term
Not trading this, but highlighting as it may indicate that other western indices may follow suit and struggle to increase in the next 2-6 months
Trade active
Boom...! and down she goes... 4000 point drop and only first monthly barThis is going to take a few months to build a base to move higher
Note
I think this will base out somewhere between 17000 and 18000 drifting lower in the coming months, but that is just eyeballing it here...It shouldn't really get below 16200 otherwise the 5 wave structure will be broken and would need to reassess
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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.