DAX is attempting to break through 61.8 Fibonacci of the downward movement in 2018 as the price approaches Dynamic Resistance from DeM Sequential Level 12430 and forms 9th. This gives good reason for a slightly risky trade against the latest upward movement, from 12430 sell levels with SL 12520.
DeM (14) in overbought market after turning down above 0.7 - supports the negative scenario.
MA50 and MA200 have formed a Golden cross, but very often after a similar formation, the price adjusts and tests 50MA, and we can look for targets around 11900 - 11930.
Alternative Scenario: If the price breaks above the DeM level of 12430 and holds up with at least 1 whole bar closed above this level, the negative scenario will be spoiled.
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