Emerging Channel Down pattern in its final wave was identified on the DAX 40 30 Minutes chart. After a strong bearish run, we find DAX 40 heading towards the upper triangle line with a possible resistance at 22707.1250. If the support shows to hold, the Channel Down pattern suggests a rebound back towards current levels.
DAX 40 is quickly approaching the support line of a Channel Down. We expect either a breakout through this line or a rebound.
