DAX is approaching our first support at 11425 (horizontal pullback support, 100% Fibonacci extension ) where a strong bounce might occur above this level pushing price up to our first resistance at 12547 (horizontal swing high resistance, 50%, 61.8% Fibonacci retracement ). Stochastic (89,5,3) is also approaching support and seeing a bullish divergence and we might see a corresponding bounce in price should it bounce off this level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.