DAX30 Potential Bullish Breakout Above Weekly Resistance

The DAX30 has been contained within the consolidation rectangle precisely between W H3 and W L3. This is suggesting a potential breakout. Bulls have more confluence as the market has been supported and the MACD is above 0 line. However, traders need to pay attention to reaction too. Above 12412, the market should provide a bullish break towards 12482 and 12538. Only a 4h candle close above 12538 might target 12752 by the end of the week. However, a drop below 12158 is bearish, and targets are 12120 and 12032. Below 12032, the weekly target is 11818.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

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