DAX: Targeting 13,600 on a possible band shift.

30 באוק׳ 2019

DAX has been trading within a long term 1M Channel Up (RSI = 58.539, MACD = 225.500, Highs/Lows = 732.5857) since the December 2018 bottom. From January until July the price traded on the upper band of the Channel and then it made a bottom on the lower band. That essentially started a new Channel Up within the lower band until now that we had a contact with the Channel's mean.

If the price breaks and closes on the 1D time frame above then a new aggressive sequence may start on the upper band again that should easily hit the 13,600 All Time High (ATH). If not, then a pull back to the previous High (as it happened in March) will serve as a buy zone for a more sustainable rise to 13,600.






** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.