Scallop on DAX with new upside target to 18,792From the previous trade analysis on DAX, it hit our target of 16,333.
This was due to a Falling Wedge along with a Reverse Cup and Handle pattern.
Since then, the price has moved into a consolidation period where the price was fighting between the bulls and bears.
And guess who is winning? The bulls again.
There has been a smaller pattern form called a Rounding Bottom or a Scallop formation.
Now that the price has broken above the neckline, means we can expect upside to come to the next target.
Other indicators confirm upside momentum including:
7>21>200
RSI>50
My next target will be up to 18,792
