DAX 40 is trapped in a Falling Wedge formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 19285.0400 is expected in the short term.
Related Posts
Important price line being approached by NAS 100. This price has been tested numerous times before.
NAS 100 is approaching a support line at 19436.7383. If it hits the support line, it may break…
Extreme movement experienced on ASX 200. Check this chart to see what to do next
ASX 200 has moved higher by 12.56% from 7165.3 to 8065.6 in the last 25 days.
After testing the resistance line numerous times, NAS 100 is once again approaching this line. Can we expect a bullish trend to follow?
NAS 100 is heading towards the resistance line of a Channel Up. If this movement continues, the price…