Is DAX30 Sending Early Recession Signs?

Google+ Pinterest LinkedIn Tumblr +

Not so long ago, we saw how the price pushed off from the upper bound of the green channel, after which the sideways movement began. It is not clear what scenario the price will choose.

The chart shows two possible scenarios. If we see the growth of the market and the break of the resistance level of 13517, the way will be opened for the bulls to the next important resistance of 14751, which is on the upper bound of the yellow channel.

However, if we see a decline, and the market goes below the support level of 12662, then in the next trading weeks we could expect a smooth decline to the 11938 area. This level is on the lower bound of the green channel.


About Author

Leave A Reply