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DAX analysis for a client


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 break above 14800 targets are 15400/15500
Short Trade: Below 13400 for target of 13100/13000 and below 13000 for target of 12650.
Breaking 12600 it can give 11300/11250.



GANN Angle Analysis:
Gann Angles resistance and support summary based on weekly/monthly angles
Resistance: 14300/15400/1500
Supports:
Minor Support 1: 13500/13400
Strong Support 1: 13100/13000
Strong Support 2: 12100                Strong Support 3: 11500
Very Strong Support: 11100/11000
In summary DAX is at strong resistance and only breakout above 13900 can give good upside. Otherwise good trading opportunities can come on short selling.
Gann Angle based Swing Trade opportunities:
Long Trade:  Above 13950 for target of 14300/14800/15400/15500
Short Trade: Below 13400 for target of 13000/13000/12100/11500/11100/11000






What Happened To DAX ?

This is where DAX came down.


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