DE30 Intraday Setup.
Updated
GER30 - Intraday - We look to Sell a break of 12288 (stop at 12404)
Short term MACD has turned negative.
We expect an initial move higher to fail and look to set shorts on a break back through 12300.
Our outlook is bearish.
200-hour EMA is at 12324.
Bearish divergence is expected to cap gains.
Broken out of the wedge to the downside.
The bias is to break to the downside.
Higher correction is expected.
Our profit targets will be 11941 and 11806
Resistance: 12500 / 12600 / 12700
Support: 12400 / 12300 / 12100
Short term MACD has turned negative.
We expect an initial move higher to fail and look to set shorts on a break back through 12300.
Our outlook is bearish.
200-hour EMA is at 12324.
Bearish divergence is expected to cap gains.
Broken out of the wedge to the downside.
The bias is to break to the downside.
Higher correction is expected.
Our profit targets will be 11941 and 11806
Resistance: 12500 / 12600 / 12700
Support: 12400 / 12300 / 12100
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