Micro DAX Futures (FDXS1!), H4 Potential for bullish rise
Type : Bullish Rise
Resistance : 14216
Pivot: 13674
Support : 13348
Preferred Case: On the H4, with prices moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 13674 where the pullback support is to the 1st resistance at 14216 where the 78.6% fibonacci retracement and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 13348 where the overlap support, 100% fibonacci projection and 38.2% fibonacci retracement are.
Fundamentals: Due to concerns of inflation, 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 : 14216
Pivot: 13674
Support : 13348
Preferred Case: On the H4, with prices moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 13674 where the pullback support is to the 1st resistance at 14216 where the 78.6% fibonacci retracement and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 13348 where the overlap support, 100% fibonacci projection and 38.2% fibonacci retracement are.
Fundamentals: Due to concerns of inflation, 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.