DAX: Entered a short term accumulation phase ahead of the next r

4 Tem 2023

DAX hit the 4H MA200 again after a much needed technical pull back that helped at correcting last week's overbought technicals on the 4H time frame (RSI = 48.684, MACD = 21.500, ADX = 34.751). This is a similar structure as early June, when the 4H MA200 (and 0.382 Fibonacci) offered support to a 4 day accumulation phase before the bullish leg made a Higher High on the Channel Up pattern.

We are entering a new buy on the current market price, targeting the top of the Channel Up (TP = 16,500).

Prior idea:

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