DAX – Limited rallies

Posted: 8th March 2019

Monthly: Broken out of the Ending Wedge formation to the downside. The measured move target is 8685.

DAX

Weekly: We have seen a strong correction to the upside. This could now be seen as an Expanding Wedge pattern that has an eventual bias to break to the upside. However, with previous support (now resistance) located at 11702 and bespoke resistance at 11800, further rallies could be limited.

DAX

Daily: An AB=CD corrective formation could take the index to 11980. We look to sell into rallies.

DAX

We look to Sell at 11800

Stop: 12050

Targets:11250 and 10400