DAX is approaching its bottom. Which indicators to look at.

DAX has been trading for long within a very specific set of indicators that have very accurately signaled tops and bottoms. The top was eventually priced as per our update earlier this year:

The signs of exhaustion were clear at the time. It wasn't just the fact that the index was trading near the top of its Channel Up but also the 1D CCI indicator entering its long-term Resistance Zone.

Right now, if the index doesn't find support today on the Internal Pivot line, look for two things then: a candle wick below the 1W MA50 (red trend-line) and mostly the CCI hitting its Support Zone.

Once the above parameters are met, our next target on DAX will be the 16400 - 16600 Zone (the 1.236 Fibonacci extension as with the November 19 High).


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