German 40 IndexShort
DAX40/ Reversing From (ATH)
Updated
DAX Technical Analysis:
The price reversed from their ATH, and it looks like now has a bearish momentum as long as trades below the last high level of 20460 especially if breaks below 20360 to continue the bearish trend toward 20020 and 19910.
Otherwise should break the ATH closing 1h or 4h candles above it to be a bullish area toward 20575
Key Levels:
Pivot Point: 20350
Resistance Levels: 20460, 20580
Support Levels: 20360, 20220, 20020
Trend Outlook: Bearish Momentum
The price reversed from their ATH, and it looks like now has a bearish momentum as long as trades below the last high level of 20460 especially if breaks below 20360 to continue the bearish trend toward 20020 and 19910.
Otherwise should break the ATH closing 1h or 4h candles above it to be a bullish area toward 20575
Key Levels:
Pivot Point: 20350
Resistance Levels: 20460, 20580
Support Levels: 20360, 20220, 20020
Trend Outlook: Bearish Momentum
Trade active
DAX Technical Analysis
The price has dropped approximately 3.5%, as mentioned previously, and has corrected to the resistance line located at 19900.
Currently, as long as the price trades below 19900, bearish momentum is expected to continue, with the price likely to reach 19660. A break below 19660 could push the price further down toward 19480.
The bullish scenario will be activated if the price breaks above 19910 and stabilizes above this level.
Key Levels:
Pivot Point: 19900
Resistance Levels: 19990, 20070, 20200
Support Levels: 19780, 19660, 19490
Trend Outlook: Bearish Momentum
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