DAX30 INDEX CAN HAVE A CORRECTION -15% OUT OF THE REBOUND FROM Q1 LOWS.
THE TRENDLINE PRESENTS SEVERAL FEATURES THAT GIVE HINTS TO A POSSIBLE TREND REVERSAL AND A SELL-OFF CORRECTION
IN AN OVEREXTENDED REBOUND.
THE DAX30 HAS BEEN SHAPING A POSSIBLE HEAD&SHOULDER PATTERN, ANTICIPATED BY THE FISHER TRANSFORMATION OSCILLATOR,
THAT CAN BE A POWERFUL REVERSAL PATTERN WITH A STRONG SELL SIGNAL.
DAX30 TRENDLINE CONTINUES TO STAY BELOW THE 50% FIBONACCI RETRACEMENT, WHERE THE ICHIMOKU SENKOU A/B NUAGE ALSO PUTS RESISTANCE TO THE TRENDLINE.
AS WELL, THE ICHIMOKU TENKAN LINE ALSO PUTS RESISTANCE TO THE DAX30 TRENDLINE, THEREFORE A VARIETY OF TECHNICAL INDICATORS DO NOT RESOLVE THE TREND ITSELF,
THEREFORE THE HEAD&SHOULDER PATTERN CAN GIVE THE REVERSAL SIGNAL, WITH A -15% CORRECTION THAT WOULD ALLOW THE DAX30 TO TEST SUPPORT IN BETWEEN
THE DAX30 9365/9585 AREA THAT WOULD MATCH THE SUPPORT2 LINE OF THE MONTHLY PIVOT.
OTHER TECHNICAL INDICATORS WORTH TO NOTICE, CONCERNING THE DAX30, HAVE BEEN THE TRENDLINE NOT BEING ABLE TO TAKE OUT THE 100MA AND 200MA(DAILY)
ALSO WORTH TO SEE, THE DOWNSIDE OPENING GAP BETWEEN 6TH OF MARCH AND THE 9TH OF MARCH, BEING FILLED TO THE UPSIDE WITH A TEST OF THE DAX30 11235 AREA
NEAR THE RESISTANCE 1 LINE PIVOT, KEEPING WELL BELOW THE 100DAYS MOVING AVERAGE AND THE 61.80% FIBONACCI RETRACEMENT, AS THE DAX30 HASN'T TAKEN OUT THE 50% FIBO RETRACEMENT
OVERALL THE APRIL REBOUND, GOING INTO MAY CAN BE RESOLVED WITH A -15% SELLOOFF CORRECTION THAT WOULD ALLOW THE DAX30 TO FIND SUPPORT DAX30 9300<9500 .
(stock markets are evolving stock and flows dynamics, only offering a technical chart, based on data available, not a certainty)
THE TRENDLINE PRESENTS SEVERAL FEATURES THAT GIVE HINTS TO A POSSIBLE TREND REVERSAL AND A SELL-OFF CORRECTION
IN AN OVEREXTENDED REBOUND.
THE DAX30 HAS BEEN SHAPING A POSSIBLE HEAD&SHOULDER PATTERN, ANTICIPATED BY THE FISHER TRANSFORMATION OSCILLATOR,
THAT CAN BE A POWERFUL REVERSAL PATTERN WITH A STRONG SELL SIGNAL.
DAX30 TRENDLINE CONTINUES TO STAY BELOW THE 50% FIBONACCI RETRACEMENT, WHERE THE ICHIMOKU SENKOU A/B NUAGE ALSO PUTS RESISTANCE TO THE TRENDLINE.
AS WELL, THE ICHIMOKU TENKAN LINE ALSO PUTS RESISTANCE TO THE DAX30 TRENDLINE, THEREFORE A VARIETY OF TECHNICAL INDICATORS DO NOT RESOLVE THE TREND ITSELF,
THEREFORE THE HEAD&SHOULDER PATTERN CAN GIVE THE REVERSAL SIGNAL, WITH A -15% CORRECTION THAT WOULD ALLOW THE DAX30 TO TEST SUPPORT IN BETWEEN
THE DAX30 9365/9585 AREA THAT WOULD MATCH THE SUPPORT2 LINE OF THE MONTHLY PIVOT.
OTHER TECHNICAL INDICATORS WORTH TO NOTICE, CONCERNING THE DAX30, HAVE BEEN THE TRENDLINE NOT BEING ABLE TO TAKE OUT THE 100MA AND 200MA(DAILY)
ALSO WORTH TO SEE, THE DOWNSIDE OPENING GAP BETWEEN 6TH OF MARCH AND THE 9TH OF MARCH, BEING FILLED TO THE UPSIDE WITH A TEST OF THE DAX30 11235 AREA
NEAR THE RESISTANCE 1 LINE PIVOT, KEEPING WELL BELOW THE 100DAYS MOVING AVERAGE AND THE 61.80% FIBONACCI RETRACEMENT, AS THE DAX30 HASN'T TAKEN OUT THE 50% FIBO RETRACEMENT
OVERALL THE APRIL REBOUND, GOING INTO MAY CAN BE RESOLVED WITH A -15% SELLOOFF CORRECTION THAT WOULD ALLOW THE DAX30 TO FIND SUPPORT DAX30 9300<9500 .
(stock markets are evolving stock and flows dynamics, only offering a technical chart, based on data available, not a certainty)