Monday 17 December 2018

Xetra Dax 30 Index: Fighting cloud chart resistance!

Xetra Dax 30 Index: Fighting  cloud chart resistance!

The Dax is digging deeper into the cloud chart resistance on a 60min chart. Top end of the cloud remain a key resistance zone. Need to see a breakout past these levels.

Key support zones to keep an eye on are 10785/10721 for potential rebound from these support zones!

Not out the woods yet, but front end of the cloud indicate that we might see more upside as support comes in at bottom end of the cloud!

Price action on the daily is still below the cloud, and that is the bearish risk!

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