{"id":12373,"date":"2022-08-12T08:30:09","date_gmt":"2022-08-12T08:30:09","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12373"},"modified":"2023-05-12T08:35:03","modified_gmt":"2023-05-12T08:35:03","slug":"dax-broke-above-the-1d-ma100-important-lower-high-test","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/08\/12\/dax-broke-above-the-1d-ma100-important-lower-high-test\/","title":{"rendered":"DAX broke above the 1D MA100. Important Lower High test."},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>The German Index DAX (FDAX) is attempting today a 1D candle closing above the 1D MA100 (green trend-line) and if successful it will be the first since June 07. Despite the bullish short-term action, this is not the time to double down on buying as the January 05 Lower Highs trend-line (1) is right above, providing Resistance. On top of that, the 0.382 Fibonacci retracement level is at 13855.<\/p>\n<p>Only a break above the LH (1) can justify further buying, targeting the 1D MA200 (orange trend-line) and the 0.5 Fib. Until then, it is likely to see a rejection and short-term pull-back to test the 1D MA50 (blue trend-line) as Support. Note that if the index breaks above the 1W MA50 (red trend-line), we can claim that the trend will turn bullish on the long-term.<\/p>\n<p>A strong sign that we may be turning bullish on the long-term is the fact that the RSI on the 1W time-frame is on Higher Highs since March 21 with the price rebounding after the Double Bottom. We saw the exact opposite formations right before the 2022 correction started. Price formed a Double Top while the 1W RSI was on Lower Highs.<\/p>\n<p>Tradingview link:<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/chart\/FDAX1!\/q479dS1g-DAX-broke-above-the-1D-MA100-Important-Lower-High-test\" target=\"_blank\" rel=\"noopener\">https:\/\/www.tradingview.com\/chart\/FDAX1!\/q479dS1g-DAX-broke-above-the-1D-MA100-Important-Lower-High-test<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The German Index DAX (FDAX) is attempting today a 1D candle closing above the 1D MA100 (green trend-line) and if successful it will be the first since June 07. Despite the bullish short-term action, this is not the time to double down on buying as the January 05 Lower Highs trend-line (1) is right<\/p>\n","protected":false},"author":611,"featured_media":12375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1639],"tags":[],"class_list":["post-12373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stockindices"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12373"}],"version-history":[{"count":3,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12373\/revisions"}],"predecessor-version":[{"id":12377,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12373\/revisions\/12377"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12375"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}