DAX (DE30) - 13.03.2017
Timeframe: H4
Long-term uptrend with correction and several unsuccessful attempts to break into 23.6% Fibo retracement of the last bullish momentum.
Price Action: Fake breakthrough 23.6 Fibo and SMA50, followed by bullish takeover
Technical indicators:
SMA50/200 - a positive trend (50 over 200) and the price bounced from SMA50 - probably increase.
DeMarker - does not give clear signals.
CCI (50) - approached 0 and swung back up - a signal for promotion.
SL: 11882
Alternative scenario: breakthrough SMA50 and remand there can lead to a continuation of the correction and eventual test around 38.2% Fibo.
Jr_Trader_Ivan_Ivanov
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