DAX: Channel Up making a bottom.

DAX is trading within a Channel Up on the 4H chart (RSI = 36.715, MACD = -1.100, ADX = 34.094) since lat June. Following the Higher High at 13,300, the index pulled back to make contact with the 4H MA50 (blue line), which last time (July 10th) provided a rebound. We expect a similar pattern but if it fails we are prepared to close the position and turn into selling towards the 12,400 Support, where the price can contact the 4H MA200 (orange line) for the first time since May 14th.




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