$GER30 #DAX BULLFLAG? RESISTANCE? HOW HIGH CAN WE GO?Just before US Market Open the DAX Index bounced of 13300 filling perfectly the gap. You are looking at the DAX Chart of OANDA which is also active overnight, you can see Gaps on the Xetra Chart of the DAX Index (which is not active during Overnight)
While the $SPX500 already trying to break a similar Patern to the upside targeting Prices around 3200-3220 the DAX index is somehow laging behind.
On the Dax we might be in a Bullflag which can be seen on lower Timeframes with Potential to target 2017/2018 Highs if the Resistance of 13420 Breaks.
If the American Market will push Stock & ETF prices up again with Fuel from the current FED QE (Not QE as they say :) ) it could drag the DAX index with it giving more odds to a break of the Upside.
Please also take a look at my Last TA
I am currently trading the possibilities of this Potential Bullflag to the upside with a tight Stop Loss and will Take Profit upon reaching resistance.
Trade Safe!
