Type: Bearish DropKey Levels:Resistance: 13341Pivot: 13011Support: 12422Preferred Case:On the H4, with price moving within a descending channel and below the ichimoku indicator, we have a bearish bias that price will drop from the pivot at 13011 where the pullback resistance is to the 1st support at 12422 where the swing low support, 61.8% fibonacci projection and 161.8% fibonacci extension are.Alternative Scenario:Alternatively, price could break pivot structure and rise to 1st resistance at 13341 where the overlap resistance and 50% fibonacci retracement are.Fundamentals:Since Russia's Gazprom said that a new turbine halt will further cut gas to Germany, it creates additional supply worries and we have a bearish view on the DAX index .
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/mini-dax-futures-fdxm1-h4-potential-for-bearish-drop"
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