ðĐðŠ DE40 Next Rising Wave.
ðĐðŠ Nearest strong support zone: level 0.618 fibo of the entire downward wave, around 14593.
ðĐðŠ Nearest strong resistance zone: level 0.786 fibo of the entire downward wave, around 15348.
ðĐðŠ Technical environment:
- Moving averages: Uptrend
- MACD: Uptrend
- RSI: Uptrend
ðĐðŠ Price action: the DAX in December scored a correction of about 7% after which it steadily held the area around 14000. In the last week, a breakout after the accumulation began and we are currently at the height of the recent local peaks, looking at the size of the candles and the breakout formation, the way to the area around the recent resistance zones looks open.
ðĐðŠ The scenario I'm playing out is a continuation of growth to the vicinity of the nearest strong resistance zone. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
ðIf you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.ð
ðĐðŠ Nearest strong support zone: level 0.618 fibo of the entire downward wave, around 14593.
ðĐðŠ Nearest strong resistance zone: level 0.786 fibo of the entire downward wave, around 15348.
ðĐðŠ Technical environment:
- Moving averages: Uptrend
- MACD: Uptrend
- RSI: Uptrend
ðĐðŠ Price action: the DAX in December scored a correction of about 7% after which it steadily held the area around 14000. In the last week, a breakout after the accumulation began and we are currently at the height of the recent local peaks, looking at the size of the candles and the breakout formation, the way to the area around the recent resistance zones looks open.
ðĐðŠ The scenario I'm playing out is a continuation of growth to the vicinity of the nearest strong resistance zone. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
ðIf you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.ð
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