dax weekly outlook for 02 feb to 6 feb potential push up towards triangle range top at 10800 1423320
What happened last week The German 30 Index (proxy for the DAX) has traded sideways. Please click on this link for more details on our […]
What happened last week The German 30 Index (proxy for the DAX) has traded sideways. Please click on this link for more details on our […]
The German 30 Index (proxy for the DAX) has traded sideways. Please click on this link for more details on our last weekly outlook.
Pivot (key support): 10550
Resistance: 10800 & 10960/11000
Next support: 10290
Based on the latest elements, we have tightened weekly pivotal support to 10550 for a potential push up towards 10800 (upper limit of the “Symmetrical Triangle”) in the first instance before another potential short-term consolidation phase materialise within the “Symmetrical Triangle. Only a clear break above 10800 is likely to propel the Index higher towards the 10960/11000 long-term significant resistance.
However, failure to hold above 10550 is likely to see a further push down towards the next support at 10290.
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