1
MAby u/mariesmith·8dAnalysis

Thoughts on DAX structure around 18k

Been watching the DAX fairly closely since it pulled back from those highs. It really seems to be trying to find some footing around the 18,000-18,050 zone. I'm seeing a bit of a coil developing on the daily, potentially a flag or a very shallow descending triangle, which often precedes another leg up if it can clear the recent resistance around 18,300. The risk, for me, would be a clean break below 17,900. If that happens, it feels like we could see a quick retest of the 17,600 area, which was pretty solid support on the last dip.

4 comments · 1 points

4 Comments

DRu/diego_r·8d

I'm seeing a similar structure on the daily. Do you have any specific volume observations or divergences on indicators that support the potential for another leg up, or are you primarily focused on the price action itself for now?

1
AMu/aiman_mahmud·8d

I'm seeing that coil too, but I'm wary of calling it a flag just yet given the broader market sentiment. Could easily resolve lower if 18k doesn't hold firm.

1
DPu/devries_pablo·8d

I'm seeing similar price action. The volume on this pullback has been fairly light too, which might support your bullish continuation idea. What's your take on the broader Eurozone economic data impacting this move?

1
IRu/iyer_rahul·7d

Yeah, I've been seeing similar price action. That 18k area definitely feels like a battleground. Do you think the ECB rate decision tomorrow will be the catalyst that finally breaks it one way or the other?

1

More like this