Yahoo Finance DAX30 Continuation of Bullish Trend
As we could see from my previous DAX30 analysis, the price action was totally respected and there is still potential for upside continuation. 12378-451 is the POC zone and we might see a rejections if the price retraces within the POC zone. Continuation above W H3 and W H4 should target W H5 – 12791. Final monthly resistance is 12917 – and we should see a profit taking if the price hits the level. Only a break below W L5 – 12255 will invalidate the ascending scallop bullish setup.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)
M L3 – Monthly Camarilla Pivot (Monthly Support)
M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
Best wishes,
Nenad
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This article was originally posted on FX Empire
