DAX Under the 1day MA200 after 11 months!
DAX / DE40 crossed today under the 1day MA200 for the first time since November 10th 2022.
In the meantime it also broke under the wide Channel Up pattern that was holding since the December 20th 2022 Low.
This is a critical bearish break out signal and closing a 1day candle under the MA200, confirms the extension to a new Low.
Support A is at 15455 (so far a Double Bottom), so it is better to wait for a sell until this level breaks.
If it does, sell the first minor bounce and target 15050 (almost -6% from the recent top).
Important note: The 1day MACD is also under a Sell Cross.
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In the meantime it also broke under the wide Channel Up pattern that was holding since the December 20th 2022 Low.
This is a critical bearish break out signal and closing a 1day candle under the MA200, confirms the extension to a new Low.
Support A is at 15455 (so far a Double Bottom), so it is better to wait for a sell until this level breaks.
If it does, sell the first minor bounce and target 15050 (almost -6% from the recent top).
Important note: The 1day MACD is also under a Sell Cross.
Follow us, like the idea and leave a comment below!!
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