DAX looking to complete a recovery

DAX looking to complete a recovery

DAX has been trading in a bearish bias since several weeks ago and it posted another fresh low at 11871. Around that area we can expect a further recovery in order to test the 200 SMA at H4 chart, which coincides with the zone provided by the 50% Fibonacci level at 12733. That area should produce pullbacks and push lower to the index towards the -23.6% Fibonacci level at 11871.

RSI indicator is entering the positive territory, favoring to the bullish recovery.




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