The
DAX
has rallied significantly since the end of September after touching a major support range at 11,550 - 11,850 - the area that price bottomed in November of 2020
It is now pressuring the downtrend extending from the yearly highs and could be poised to break higher
A convincing close above downtrend resistance would provide a great buying opportunity with near-term targets at 13,570 and 13,950
However, if trend resistance holds firm, a continued downside push looks likely, with a great opportunity to sell and chase price back to yearly lows
DAX
has rallied significantly since the end of September after touching a major support range at 11,550 - 11,850 - the area that price bottomed in November of 2020 It is now pressuring the downtrend extending from the yearly highs and could be poised to break higher
A convincing close above downtrend resistance would provide a great buying opportunity with near-term targets at 13,570 and 13,950
However, if trend resistance holds firm, a continued downside push looks likely, with a great opportunity to sell and chase price back to yearly lows