Dax weekly recap and outlook
Recap:
Outlook:
- 5th Wave is finished
- possible abc retracment in place with low on 20ema weekly and 61.8% fibonacci (not shown in chart)
- bullflag on weekly
- small buy divergence on macd
- macd fastline about to cross zero line
- macd slow line turning up
- adx falling near 15
- bullish reversal candle on weekly
Outlook:
- break above bullflag should lead price to high volume node resistance
- a break above b could be a confirmation of abc pattern and lead to new highs or at least a test of the last high
- rejection from bullflag should lead to a test of the last low
- a break below last low should lead to the retracement area of wave 1 & 2 wich is around 50% fibonnacci
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