DAX30 forms Bearish AB=CD pattern, good to sell on rallies
Pattern formed – Bearish AB=CD Pattern
Potential reversal zone -10830
DAX30 made a temporary top around 10830 and started to decline from that level. It is currently trading around 10732.
The index took support around 55- 4H EMA and jumped slightly from that level. So short term bullishness only above 10830.
Any violation above 10830 targets 11000. On the lower side, any break below 10640 will drag the index down till 10490/10347 (Oct 13th low).
It is good to sell on rallies around 10700-10720 with SL around 10835 for the TP of 10350
Potential reversal zone -10830
DAX30 made a temporary top around 10830 and started to decline from that level. It is currently trading around 10732.
The index took support around 55- 4H EMA and jumped slightly from that level. So short term bullishness only above 10830.
Any violation above 10830 targets 11000. On the lower side, any break below 10640 will drag the index down till 10490/10347 (Oct 13th low).
It is good to sell on rallies around 10700-10720 with SL around 10835 for the TP of 10350
