DAX several points away form a breakout that can push the price toward 11850

15.03.2019 / 11:55

Rating:

DAX D1 / H4 | Our expectations:

On a daily chart, DeM Sequential's latest 9th has not worked out to reverse the latest upward movement, which is a strong signal to confirm the trend and the expectation of a new rise in the price of the index.

Breakthrough of the main diagonal of the bearish trend from June 14, 2018 is broken, which is a strong signal to expect the last upward trend to remain.

Formation reversed Head & Shoulders - trend conformation signal, but only in case of a break after a few points, or in a conservative break and test with the SL 11470.

In case of a breakthrough and activation of the formation, the DAX price is likely to reach the SMA200 on the D1 and even the DeMark trend 11850 levels.

Alternative Scenario: If the price drops below the internal diagonal of the DeM trendline trader and 50 SMA on H4, see a test of the basic diagonal of the last ascending trend.

Trader Nikolay Georgiev

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DAX several points away form a breakout that can push the price toward 11850

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