Will DAX Continue Bearish Trend? Explained
And here is why:
1.) On the H4, with the price moving below the descending trendline and below ichimoku cloud
2.) Price is now testing a key level at 12213, which is in line with the swing lows and 100% fibonacci projection
2.) Price is now testing a key level at 12213, which is in line with the swing lows and 100% fibonacci projection
3.) There might be some potential pull back before a major break out but if bearish momentum continues, we're looking for the price to go further down to 11621 levels where the 200% fibonacci extension is, this is also the almost 2 year lowest price from Oct 2020.
4.) With all the macro news about interest rate hikes and PMI, businesses are definitely affected hence we're fundamentally looking at a further downside to DAX
Does anyone have a similar bearish view?
Trade Entry recommendations:
Sell Entry: 12213.92
Take Profit: 11621.75
Stop Loss: 12907.19
Other tickers to recommend:
For 5x Long Leverage: $S&P 5xLongSG250228 (CUEW.SG)$
For 5x Short Leverage: $S&P 5xShortSG250228 (CXBW.SG)$
4.) With all the macro news about interest rate hikes and PMI, businesses are definitely affected hence we're fundamentally looking at a further downside to DAX
Does anyone have a similar bearish view?
Trade Entry recommendations:
Sell Entry: 12213.92
Take Profit: 11621.75
Stop Loss: 12907.19
Other tickers to recommend:
For 5x Long Leverage: $S&P 5xLongSG250228 (CUEW.SG)$
For 5x Short Leverage: $S&P 5xShortSG250228 (CXBW.SG)$
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