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Commodities, Stocks, and Indices
Indices Updates by Solid ECN
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[QUOTE="SOLIDECN, post: 210069, member: 80239"] [JUSTIFY]DAX 30, H4 On the four-hour chart, there is a lateral movement of the asset within the boundaries of 12829–13323, and at the moment a Bearish Rectangle price pattern is being formed, the exit from which, most likely, can be carried out downwards, as well as a "bearish" Pattern Method of Three Falling, which signals about the continuation of the downtrend. Nevertheless, the growth of quotations is estimated as a probable scenario with a short-term correction to the resistance level of 13323, after which the instrument will resume its decline to the level of 12829. Breaking this level will mean that the Bearish Rectangle price pattern is entering its final stage and the downward movement will intensify into the support zone of 12533–11305. An alternative scenario can be implemented if the "bulls" fix their positions above 13323; then it will be possible to restore the price to the range of 14240–1512. [IMG]https://i.ibb.co/3MHMZRK/dax-1.png[/IMG][/JUSTIFY] [HEADING=1][JUSTIFY]DAX 30, D1[/JUSTIFY][/HEADING] [JUSTIFY]On the daily chart, in the area of 13323, a Bearish Engulfing pattern is observed, which indicates that buyers could not hold their positions that day, falling to the level of 12829; however, immediately after it, a Bullish Engulfing pattern formed at the same level, which signals a price reversal at the bottom, although the buyers' attempt was unsuccessful and the model did not receive confirmation of the market's "bullish" mood. The signal for this was the formation of a "bearish" Shooting Star model under the resistance level of 13323. At the moment, the likely scenario is that the asset will fall to the support level of 12533, overcoming which will allow the "bulls" to head lower to the zone of 11947–11305. [IMG]https://i.ibb.co/2qRTWgm/dax-2.png[/IMG] [B]Support levels[/B]: 12533, 11947, 11305 |[B] Resistance levels[/B]: 13323, 14240, 15120[/JUSTIFY] [/QUOTE]
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