DAX: Ascending Triangle on an RSI bearish div. Sell opportunity.

١٨ فبراير ٢٠٢٠

DAX is trading inside a 1D Ascending Triangle (RSI = 57.402, MACD = 123.300, ADX = 27.184, Highs/Lows = 79.6214) and currently is testing the Higher High trend line. With the RSI though on a bearish divergence since practically the start of the pattern, we are expecting a pull back soon. Notice how the RSI is also on the High of its Channel Down (bearish divergence) pattern, which has delivered a drop in the previous two times.

The 1D MA50 is acting as the pivot at the moment and should be the first Target for short term traders. If we see a 1D candle close below the MA50, then traders may extend shorting (but with the SL lowered down to a profit level) towards the 12,880 Support.





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