Dax Monthly - hitting fib cluster level

28 Şub

DAX monthly chart hitting fibonacci extension cluster level

The Dax typically leads the Dow to some degree, and has a deeply overbought RSI now at a potential resistance zone

Likely to have a retracement in the short to medium term

Not trading this, but highlighting as it may indicate that other western indices may follow suit and struggle to increase in the next 2-6 months

9 Nis

İşlem aktif

Boom...! and down she goes... 4000 point drop and only first monthly bar
This is going to take a few months to build a base to move higher

9 Nis

Not

I think this will base out somewhere between 17000 and 18000 drifting lower in the coming months, but that is just eyeballing it here...
It shouldn't really get below 16200 otherwise the 5 wave structure will be broken and would need to reassess