DAX, H4 - potential triangle pattern
The German DAX index has been creating a potential symmetrical triangle pattern. The market has been moving within its upper and lower bounds. They seem to be the nearest resistance and support areas for the market.
From the technical point of view, we could wait for the breakout with the next possible resistance at the huge bearish gap from March or with potential support at the bullish gap from the beginning of April.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
From the technical point of view, we could wait for the breakout with the next possible resistance at the huge bearish gap from March or with potential support at the bullish gap from the beginning of April.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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