Possible Head & Shoulders Formation - DAX
RECAP
Dax could be forming a huge head & shoulders but we will not have a longer term sell signal until
we break the neckline at 11600.
We topped just 7 ticks above the main challenge for bulls today at 12410/420.
Forecast
Dax held the main challenge for bulls today at 12410/420 almost perfectly & collapsed to what is now very minor support at the 100 week moving average at 12115. However a break below the small gap at 12082 targets good support at the 500 day moving average at 12055/045.
First resistance at 12350/360 then 12410/420 but above here this time targets 12510/520. Try shorts with stops above 12570.
Dax could be forming a huge head & shoulders but we will not have a longer term sell signal until
we break the neckline at 11600.
We topped just 7 ticks above the main challenge for bulls today at 12410/420.
Forecast
Dax held the main challenge for bulls today at 12410/420 almost perfectly & collapsed to what is now very minor support at the 100 week moving average at 12115. However a break below the small gap at 12082 targets good support at the 500 day moving average at 12055/045.
First resistance at 12350/360 then 12410/420 but above here this time targets 12510/520. Try shorts with stops above 12570.
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.