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Germanindex

1D/ 1W Support test. Awaiting bullish reversal confirmation.A very aggressive 4H Channel Down (oversold RSI = 24.435, Highs/Lows = -199.7643, MACD = -93.500) invalidated the previous attempt to break the 1D Falling Wedge (black dotted lines). DAX should now attempt a test either on the 1D (RSI = 33.688, B/BP = -380.9120) or the 1W (RSI = 40.497) support. The 1D Falling Wedge will be on a Lower Low there and the 1W remains on its massive Head and Shoulders lows, in anticipation of the the new long term bullish leg on the Monthly Chart that will in time make the new All Time Highs on the index. Our target remains intact (TP = 12,420).
XETR:DAXLong
by InvestingScope
Target hit. 1D bearish reversal. Short.TP = 12,550 hit as the 1D Channel Down (RSI = 42.259, MACD = -17.900, Highs/Lows = -20.1645, B/BP = -179.2980) made a near 12,600 Lower High. The index has now resumed the downtrend and should attempt at least another 12,100 1D support test. Our initial target is 12,130 and if 12,100 is crossed we will continue with a TP = 11,877 with the SL on profit to ensure the profit. Notice now the price made the 1D Lower High exactly on the blue resistance curve, which on a 1W scale is the right shoulder of the very long term 1W Head and Shoulders formation.
XETR:DAXShort
by InvestingScope
Target hit. Approaching a new Lower High. Long.TP = 12,355 hit as the 12,080 1D support was kept intact and DAX made a Lower Low on its Channel Down (RSI = 46.830, Highs/Lows = 0.000). Currently the price is even above our maximum expectation of 12,400, so attention is required as we approach 12,510. Since the 12,080 support was respected, at least on the short term, the index should technically approach 12,600. We expect to utilize the bullish momentum built on 4H (RSI = 60.708, Highs/Lows = 101.6429) and as a result we are again going long with TP = 12,500 and 12,550 in extension.
XETR:DAXLong
by InvestingScope
DAX..... Heading down south?The German leading index charged through a daily trend today fueled by the escalating news from Turkey. As you can see we're closing in on the trend line that was formed in 2016 after the "15-16 sell-off". With the 10 day RSI indicating "oversold" a rebound to the previous trend line (12350) is a possibility after which I'm expecting another down turn and breaking the 2016 trend. Another possibility is that the DAX keeps on steaming through and breaking the trend in one go. Once it manages to break I expect the support at around 11850 to hold it's ground. If it looks like the 11850 support is gonna break as well I'm gonna have to follow up on this post with new targets/possibility's. Keep in mind we're living in interesting times with the " Trade wars" and "Future crisis" looming around every corner. P.S. I'm not telling you what to do always cross reference with you're own analysis. I'm not responsible for your loss. P.P.S Any thoughts/feedback is always appreciated!
TVC:DEU40
by HungrywolfNL
Head and Shoulders nearly complete. Wait for confirmation.DAX is about to complete a very long term Head and Shoulders pattern on the Monthly chart, thus the neutral RSI = 51.621, ADX = 29.826. 1D is a Channel Down formation (RSI = 34.363, MACD = -73.300, Highs/Lows = -357.2500, B/BP = -455.2462), which if the 12,080 support from the previous Lower Low breaks, will hit 11,900. If it is rejected, then it will rebound to form a new Lower High near 12,400. We use this support as a break-out confirmation point (crossing = short with TP = 11,900, rejection = long with TP 12,355.
XETR:DAX
by InvestingScope
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