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DAX Bounce at 88.6 Fib Zone is Expected

By:
Nenad Kerkez
Published: Oct 21, 2020, 07:50 UTC

DAX is close to 88.6 zone and we can see potential for a bounce. Historical buyers are waiting.

DAX

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DAX is close to 88.6 zone and we can see potential for a bounce. Historical buyers are waiting.

12600-12666 is the POC. Looking to the left we can also see historical buyers. This is a confluence of technicals within the POC zone. If the market bounces then watch for 12727 all the way up to 12861. However a break below 12530 will make the DAX bearish and we could see 12291. As long as the market is above 12531, bulls should be safe.

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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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