Possible H&S development on the DAX
Yesterday we say a development of a divergence pattern on the hourly timeframe of the DAX, which also touched a yearly support. This resulted in a bounce upwards of the index.
Again on the hourly chart, but also on the 240 timeframe, we can see a bullish head and shoulders in development. Let's wait and see - the index might pullback on the 9540 - 9580 area, and then go back up in which case there would be an opportunity of entering long at the break of the neckline, for a strong upward movement.
In this cloud of smoggy german uncertainty, let's strap our seat belts on.
Again on the hourly chart, but also on the 240 timeframe, we can see a bullish head and shoulders in development. Let's wait and see - the index might pullback on the 9540 - 9580 area, and then go back up in which case there would be an opportunity of entering long at the break of the neckline, for a strong upward movement.
In this cloud of smoggy german uncertainty, let's strap our seat belts on.