DAX has formed a Channel Down pattern following the December 14th rejection on the Rising Resistance.
The 1day MACD has formed a Bearish Cross like the one on November 28th 2022, which is a Top after a similar aggressive rally like the one the index ran since late October.
That top also turned into a Channel Down which then broke downwards and hit the 1day MA50, a little over the 0.382 Fibonacci level.
Sell now and target 16200 (little over the 1day MA50).
Previous chart:
Follow us, like the idea and leave a comment below!!
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.