DAX Intraday - December

bonsai

Veteren member
4,106 11
doubts beginning to flood in now

my resistance line from 3577 has been rejected 3 times. The last
time being at the high where there is serious resistance on the
long term chart.

The move from 3577 looks very much like a 5 wave affair.
That should take us back to at least the 3800 area.

This morning we failed to break the 50% fib at 3883 when we
had every opportunity to do so.
Dax was quoted at 3892 overnight.

I have a swing failure on my RSI.

The dark red candles are shutting out the daylight ?
You might even call today 'bearish engulfing'

Nothing confirmed yet, but if we get there , a failed retest of the
high would probably provide the final clue ?
 

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bonsai

Veteren member
4,106 11
Nothing happened yet to change my view this could be a failed retest of the high.

However, trying to keep an open mind, if we do go to a new high
you might already have seen the possibility of this upper channel coming into play.

One thing that is interesting about it , is that the gradient is
38.2% p.a of the starting value.
 

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