Is the $DAX about to explode?
Since my last analysis, the $DAX broke out of the downtrend line, retraced from the 50 SMA line and today touched previous resistance zone that clearly (for now) acts as support.
Judging by CURRENT price action, If the DAX will create higher high after testing support it could mean continuation of the uptrend and the end of the correction move.
BTW, if it won't make it, the bearish scenario I mentioned near 1150 is still very relevant. A close below 1130-1140 will confirm it
Too soon to tell, but notice the zones marked in this chart
Judging by CURRENT price action, If the DAX will create higher high after testing support it could mean continuation of the uptrend and the end of the correction move.
BTW, if it won't make it, the bearish scenario I mentioned near 1150 is still very relevant. A close below 1130-1140 will confirm it
Too soon to tell, but notice the zones marked in this chart