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DAX is Still In Uptrend but Watch for Downmove

Nenad Kerkez
Nenad Kerkez
DAX is Still In Uptrend but Watch for Downmove

Dear Traders,

The price on the DAX should go above 13365 or we could see a deeper retracement. This will lead to a trend change on intraday time frames.

The DAX30 has been in a strong uptrend. The price on the index is bullish but a small SHS pattern and a failure to print a new high above 13365 will probably start a move down on intraday time frames targeting 13200 and 13086. That could initiate a deeper downmove towards 12995 and 12843 during the course of the next week. Watch for price action!

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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