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CFD Update: GER30 set for a breakout?Today's focus GER30 Pattern – Range – diagonal consolidation pattern Possible targets – Upside, 15,985 – 16,160; Downside, 15,718 – 15,530 Support – 15,740 Resistance – 15,965 Hi, and thanks for looking at today's update. Our focus is on the GER30 as price sits in a range but has also formed a wedge/diagonal pattern that could signify movement to come. It's an interesting set-up as even if we see a break of the pattern price still has the range to contend with. US futures are lower, and we are seeing the GER30 lower at this stage, so could we see a move lower today? If so, sellers will need to break support to get a breakout really going. On the other hand, buyers will need to do the same to resistance to get their move going. US Retail Sales could play a part. It’s due today at 10:30 pm AEST (8:30 am EST) Thanks for stopping by. Good trading, and have a great day.
EIGHTCAP:GER30
by Eightcap
Dax index 4hour & weekly trend analysis Hello everyone , as we all know the market action discounts everything :) a short video where we look at the 4H & 1W chart trying to understand the market and the direction of the trend . Starting with the 4H chart ,the trend seems to be bearish after the price dropping from an all high, This break higher has left behind the sideways trend from the last few weeks ,the price does seem to be moving in a ascending triangle pattern, the 4 hour trend seems to be going in a bearish kind of way but the major trend does remain bullish . indicators showing us that bearish movement where we see : 1_The market price moving below the MA and the EMA (bearish sign) where MA at 15658.040 and EMA at 15626.054 and the market price at 15540.310 2_MACD still remains bearish after a negative crossover between the MACD and the Market price 3_Stoch RSI sitting in oversold area (bearish sign) Support & Resistance points : support Resistance 1_ 15505.99 1_15663.29 2_ 15445.82 2_15760.42 3_ 15348.69 3_15820.59 Now lets look at the 1W chart and see what's the market state , using the Elliot Wave theory we could be seeing a small corrective move after that the market will probably continue his uptrend , the major trend does seem to be bullish with no signs of a reversal to be found on the chart , if the uptrend continues we could be seeing the DAX Index hitting the 16000 zone. indicators confirming the uptrend of the market where we see : 1_The Market price trending above the 21MA and the 21EMA (bullish sign) where MA at 15185.248 and EMA at 15139.265 and The market price at 15540.310 . 2_Average Directional Movement Index (ADX) & DI showing that the market is in a trending phase at 27.296.with a bullish crossover between the DI+(20.191) and DI-(13.962) 3_RSI showing strength in the market sitting at 63.71 with no divergences. Support & Resistance points : support Resistance 1_ 15428.12 1_15716.76 2_ 15168.31 2_15810.41 3_ 15031.27 3_15962.02 Make sure to Follow and Like for more content This is my personal opinion done with technical analysis of the market price , not financial advice. If you have any questions please ask Thank you for reading.
XETR:DAX
by GabiDahduh
6