- March 21, 2023
- Posted by: Tradingshot Articles
- Category: Stock Indices
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DAX is now testing the 1D MA50 (blue trend-line) having rebounded at the bottom of its long-term (since the October 03 Low) Channel Up and the 1D MA100 (green trend-line). With the 1D RSI coming out of its Accumulation Zone, as in the previous two Lows (late September and late December 2022), we expect this first long-term wave to hit at least 16100 and the middle (0.5 Fibonacci) of the Channel Up.
Tradingview link:
https://www.tradingview.com/chart/DE40/ogEYlQzc-DAX-is-starting-a-long-term-rally-to-16100