A bullish situation is continuing to build on DAX (German index). Unlike US indices, it has renewed the historical high and displays notable strength, as the US dollar pushes down. “Sell America” narrative helps it to consistently climb higher without any pullbacks, forming small consolidations all the way during the rally.
The previous “coil” (a very narrow chart formation) has been lasting for already two weeks, so it’s possible to either observe a correction to the downside or an upside breakout. The latter seems as a more realistic scenario given the improving sentiment for stocks across the board.
Three days of correction below the previous intermediate-term high can point to good timing for a possible long position, and a position below upper band of Bollinger Bands (21) shows yet a potential to continue rising.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
The previous “coil” (a very narrow chart formation) has been lasting for already two weeks, so it’s possible to either observe a correction to the downside or an upside breakout. The latter seems as a more realistic scenario given the improving sentiment for stocks across the board.
Three days of correction below the previous intermediate-term high can point to good timing for a possible long position, and a position below upper band of Bollinger Bands (21) shows yet a potential to continue rising.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.