DAX Index Analysis For upto Feb 29, 2020 : Daily chart shows prices are at Strong resistance zone at upper trend line (red color). On Friday (Feb 14, 2020) it formed a Doji candle that is a sign of reversal as it formed at top and at resistance zone. So correction or reversal from this level is very likely. If prices cross above 13950 and sustains above then Breakout on upside is possible. But this looks very unlikely for at least few days as RSI indicator is also at resistance. At present it is in no trade zone. Best scenario is to wait for price to break 13600. Trade opportunities: Long Trade: Above 13950 for target of 14300. Short Trade: Below 13600 for target of 13450/13400 and below 13400 for target of 13100/13000 DAX Analysis for Swing Trade on Weekly Charts: Weekly chart shows price is at multiple channels and trend lines resistance. Trade opportunities: For few weeks or months holding Long Trade: Above 13950 for target of 14300/14800 and brea
Disclaimer: This blog is for education purpose and discussion on aspects related to technical analysis of stock market. In no way I am recommending trades based on my observations. This is for learning purpose only. I am not responsible for trades taken on information/observations in the blog.
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