The DAX has been weak in the last weeks. If the index is about to fall on the support at about 11.800 points we could have a S-H-S formation, with the neckline at this level.
If the DAX would break through this neckline it could open a plummet to 10.060 Points.
In fib retracements: the left shoulder started on 61.8%, the head was the last ATH (so 100%), the right shoulder found its high at the descending trend line, slightly above the left shoulder. The neckline would be the 61.8% - fib. Taken the difference between 61.8% (11.800) to 100% (13.600) in logarithmic scale and "mirrored" to the bottom we reach the fib retracement 23.6% (10.060).
This negative trend is confirmed by the indicators RSI and MACD.
There are several support lines to be broken:
1) swing trend line (actual level)
2) ascending trend line (dotted)
3) each fib retracement (without the 50% fib, cause it hasn´t had a value in the past)
Before positioning one should wait and see if the S-H-S formation will be formed or not.
This is no trading advice!
If the DAX would break through this neckline it could open a plummet to 10.060 Points.
In fib retracements: the left shoulder started on 61.8%, the head was the last ATH (so 100%), the right shoulder found its high at the descending trend line, slightly above the left shoulder. The neckline would be the 61.8% - fib. Taken the difference between 61.8% (11.800) to 100% (13.600) in logarithmic scale and "mirrored" to the bottom we reach the fib retracement 23.6% (10.060).
This negative trend is confirmed by the indicators RSI and MACD.
There are several support lines to be broken:
1) swing trend line (actual level)
2) ascending trend line (dotted)
3) each fib retracement (without the 50% fib, cause it hasn´t had a value in the past)
Before positioning one should wait and see if the S-H-S formation will be formed or not.
This is no trading advice!
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.