DAX: Pullback buy opportunity, very stable consolidation range.

DAX formed a Bullish Cross between the 4H MA50 and MA100 but dropped sharply, the same kind of sell-off (proportionally) it had on the previous MA50-100 Bullish Cross (July 31st) which was a structured top. Opposite to theory, the Bearish Crosses have marked the bottoms.

In any case, the 1D technical outlook is neutral (RSI = 51.653, MACD = -44.700, ADX = 19.555) and that is largely due to the 0.236 - 0.786 Fibonacci range which has kept the index consolidating since almost the start of August.

Consequently any pull-back near the 0.236 Fibonacci would make an ideal buy entry. We will target a little under Fibonacci 0.786 (TP = 15,900).

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