DAX is getting ready for a new swing down
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DAX is retesting the previously broken downside resistance 14500. This is also a 61.8% retrace of the last swing down. To accelerate the next swing down we need to see a clear break below 14400.
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The weekly chart shows a retest of the broken 14500 resistance and also a triangle that is a downside extension triangle by nature. Again we can see the importance of a 14400 level that needs to be broken with confirmation to the downside for the DAX to attack the 13800 triangle line again.
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On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
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