Type : Bearish Drop
Resistance : 13340
Pivot: 13004
Support : 12591
Preferred Case: On the H4, with price expected to reverse off the stochastic resistance, we have a bearish bias that price will drop from pivot at 13004 where the pullback resistance is to the 1st support at 12591 where the swing low support and 100% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 13340 where the overlap resistance, 61.8% fibonacci retracement , -61.8% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: Due to the extended Nord Stream 1 halt, we have a bearish view on the DAX Index .
Resistance : 13340
Pivot: 13004
Support : 12591
Preferred Case: On the H4, with price expected to reverse off the stochastic resistance, we have a bearish bias that price will drop from pivot at 13004 where the pullback resistance is to the 1st support at 12591 where the swing low support and 100% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 13340 where the overlap resistance, 61.8% fibonacci retracement , -61.8% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: Due to the extended Nord Stream 1 halt, we have a bearish view on the DAX Index .
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.
Disclaimer
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.