DAX still in range
DAX is still in the wide range between 12900 and 13500. Half of the channel is near 12200 and this level is often respected by the price by looking back at the chart.
The last price movements show that it draws higher local highs and lower local lows hitting stop losses set above the last high or below the last low. Looking at the chart we can observe that price is moving in the expanding triangle.
Currently, the price is near high of November 2017, however, there is clear resistance around 13400. This level was also a resistance when the price tried to back to the top at 13500. For the last two days, the price is closed betweeb the resistance at 13400 and support at 13330 which coincides with the high drawn 18th and 19th December 2017.
Aggressive traders can try to open a short on DAX near resistance level 13400 with a tight SL, but this is a bit risky game against the current local trend.
The last price movements show that it draws higher local highs and lower local lows hitting stop losses set above the last high or below the last low. Looking at the chart we can observe that price is moving in the expanding triangle.
Currently, the price is near high of November 2017, however, there is clear resistance around 13400. This level was also a resistance when the price tried to back to the top at 13500. For the last two days, the price is closed betweeb the resistance at 13400 and support at 13330 which coincides with the high drawn 18th and 19th December 2017.
Aggressive traders can try to open a short on DAX near resistance level 13400 with a tight SL, but this is a bit risky game against the current local trend.
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