DAX downside correction swing to be triggered
DAX has reached 15500 marked by a horizontal resistance line and a long-term uptrend channel resistance and is pulling back within a channel again. Based on the price action here we could see a correction lower from here all the way to 13500.
On the weekly chart, we can see that DAX has formed a bearish hanging man formation calling for a deeper correction lower to 14100 where the first support trend line is. A break above 15500 is needed for the upside extension.
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