Type : Bullish Rise
Resistance : 13968
Pivot: 13674
Support : 13379
Preferred Case: On the H4, with price expected to bounce from the stochastic support, moving above the ichimoku indicator and within an ascending channel , we have a bullish bias that price will rise to the pivot at 13674 where the pullback resistance is. Once there is upside confirmation that price has broken pivot structure, we would expect bullish momentum to carry price to 1st resistance at 13968 in line with swing high resistance and 61.8% fibonacci projection.
Alternative scenario: Alternatively, price could drop to 1st support at 13379 where the overlap support, 100% fibonacci projection, 38.2% fibonacci retracement, -27.2% fibonacci expansion and 127.2% fibonacci extension.
Fundamentals: Since the Eurozone and German ZEW Economic Sentiment data worsened in the current survey, we have a bearish view on the DAX Index. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
Resistance : 13968
Pivot: 13674
Support : 13379
Preferred Case: On the H4, with price expected to bounce from the stochastic support, moving above the ichimoku indicator and within an ascending channel , we have a bullish bias that price will rise to the pivot at 13674 where the pullback resistance is. Once there is upside confirmation that price has broken pivot structure, we would expect bullish momentum to carry price to 1st resistance at 13968 in line with swing high resistance and 61.8% fibonacci projection.
Alternative scenario: Alternatively, price could drop to 1st support at 13379 where the overlap support, 100% fibonacci projection, 38.2% fibonacci retracement, -27.2% fibonacci expansion and 127.2% fibonacci extension.
Fundamentals: Since the Eurozone and German ZEW Economic Sentiment data worsened in the current survey, we have a bearish view on the DAX Index. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.