Type: Bearish DropKey Levels:Resistance: 12999Pivot: 12758Support: 12415Preferred 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 to the pivot at 12758 where the pullback support is. Once there is downside confirmation that price has broken pivot structure, we would expect bearish momentum to carry price to 1st support at 12415 where the swing low support, 61.8% fibonacci projection and 161.8% fibonacci extension are.Alternative Scenario:Alternatively, price could rise to 1st resistance at 12999 where the pullback resistance and 23.6% 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/dax-index-futures-fdax1-h4-potential-for-bearish-drop2"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.