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DAX Bears Might be Waiting at the POC Zone

By:
Nenad Kerkez
Published: Oct 8, 2020, 06:42 UTC

The DAX has been in uptrend as the equities have moving generally higher. However, it is getting closer to important resistance.

DAX

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The DAX has been in uptrend as the equities have moving generally higher. However, it is getting closer to important resistance.

W H5 and D H5 are resistance pivot points which also make a strong confluence with 88.6 % fib. 13050-60 zone could reject the price lower. Targets are 12958, 12889 and 12797. If D L5 breaks then next level will be 12725. However if we see the close above 13065, the price will remain bullish and upward bounce might target 13129.

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About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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