DAX (DE40) is about to complete an Inverse Head and Shoulders (IH&S) pattern, with the price currently stuck in range within the 4H MA50 (blue trend-line) and the 4H MA200 (orange trend-line).
A 4H candle closing above the 4H MA200, confirms the IH&S pattern and the bullish break-out technically targets the 2.0 Fibonacci extension, currently a little above 24600. On top of that, the break-out may be accompanied by a 1D MAD Bullish Cross, further confirmation of the bullish sentiment.
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A 4H candle closing above the 4H MA200, confirms the IH&S pattern and the bullish break-out technically targets the 2.0 Fibonacci extension, currently a little above 24600. On top of that, the break-out may be accompanied by a 1D MAD Bullish Cross, further confirmation of the bullish sentiment.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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