H1: Though the top of 13/05/2015 (11,573) has broken with small dynamics and without significance, the main trend line and the daily zone 11620 has caught the price. After a couple of hours stagnation it turned down. The daily level 11,400 has stopped the fall. Formation of the triangle is clearly visible in this time frame too.
Rise: If dax can start increasing from the level 11,400 our initial expectation is the resistance of the triangle. After breaking the top of 15/05/2015 (11,612) we may anticipate further increase. To occur this, DAX has to break the main trend line and the daily zone 11,620. Take profit level is the height of the triangle at 12,120 but the levels 11,765, 11,920, 12,000 and 12,075 can stop it.
Fall: If bears can push DAX down, our initial expectation is the support of the triangle which overlaps the bottom of 14/05/2015 and the daily zone 11,300. After breaking this level DAX may fall until the level 11,770.
H1: So far a near target price has been realized: the 161.8% and 200% retrace of the closes of 15/05/2015 top and bottom.
Rise: DAX can even continue rising without a correction. Initial target price is the next H4 zone at 11,920 then further levels (12,000 and 12,075) up to the height of the triangle (12,120). In case of a correction I would draw a new target Fibonacci Retracement. New take profit levels would be the 161.8% and 200% retraces.
Fall: From this level where DAX rests at the moment it may start to decrease which can touch the correction levels of 18/05/2015 bottom and 19/05/2015 top. The 50% retrace overlaps the daily level 11,620 and the 61.8% retrace is on the main trend line.
H1: Yesterday morning the dynamics started bearish but it lost its power quickly then it changed a bit bullish. The candle bodies became smaller. DAX rests between two technical levels (11,860 and 11,770).
Rise: If DAX continues rising without a correction then initial target price is the next H4 zone at 11,920 then further levels (12,000 and 12,075) up to the height of the triangle (12,120). In case of a correction I would draw a new target Fibonacci Retracement. New take profit levels would be the 161.8% and 200% retraces.
Fall: If the price starts a correction from this level where it rests at the moment it may decrease until the correction levels of 18/05/2015 bottom and 19/05/2015 top. The 50% retrace overlaps the daily level 11,620 and the 61.8% retrace is on the main trend line.
H1: In this time frame the local tops and bottoms are increasing so the trend is bullish. For the time being there was only a consolidation until the 23.6% retrace of 11,377-11,890 rise (18/05/2015 low and 21/05/2015 high).
Rise: If DAX continues rising without a correction then initial target price is the H4 zone at 12,000 but in the meantime the zone 11,920 can stop the rise. Further take profit level is the height of the triangle at 12,120. In case of a correction I would draw a new target Fibonacci Retracement. New take profit levels would be the 161.8% and 200% retraces.
Fall: If the price starts a correction from this level where it rests at the moment it may decrease until the correction levels of 18/05/2015 low and 20/05/2015 high (11,377-11,890). The 50% retrace overlaps the daily level 11,620.
H1: Like H4 the local tops and bottoms are increasing too so the trend is bullish. For the time being there was only a consolidation until the 23.6% retrace of 11,377-11,890 rise (18/05/2015 low and 21/05/2015 high).
Rise: If DAX continues rising without a correction then initial target price is the H4 zone at 12,000 but in the meantime the zone 11,920 can stop the rise. Further take profit level is the height of the triangle at 12,120. In case of a correction I would draw a new target Fibonacci Retracement. New take profit levels would be the 161.8% and 200% retraces.
Fall: If the price starts a correction from this level where it rests at the moment it may decrease until the correction levels of 18/05/2015 low and 20/05/2015 high (11,377-11,890). The 50% retrace overlaps the daily level 11,620.
H1: The instrument touched the 61.8% retrace of 11,377-11,925 rise (18/05/2015 low and 26/05/2015 high) which closely overlaps the daily zone 11,620. DAX fell with a powerful dynamic until this level.
Rise: The yesterday’s doji with long wick below and the reduced bearish dynamics may bring upwards movement. Initial target price is the 161.8% and 200% retraces of top of 21/05/2015 and bottom of 26/05/2015. 200% retrace nearly overlaps the height of the triangle at 12,120.
Fall: If the 61.8% retrace of 11,377-11,925 rise (18/05/2015 low and 26/05/2015 high) breaks with a large-bodied candle fall may continue until the daily zone 11,300 but this fall can be stopped by the H1 level 11,400 and by the main trend line.
H1: DAX had tested back the 61.8% retrace of 11,377-11,925 rise (18/05/2015 low and 26/05/2015 high) a few times yesterday before it started moving upwards. The daily zone at 11,770 stopped the rise.
Rise: I expect further rising on this instrument but the technical levels can stop this move. Initial target price is the 161.8% and 200% retraces of top of 21/05/2015 and bottom of 26/05/2015. 200% retrace nearly overlaps the height of the triangle at 12,120.
Fall: If DAX turns down from the daily level 11,770 then it breaks the daily zone 11,620 fall may continue until the daily zone 11,300 but this it can be stopped by the H1 level 11,400 and by the main trend line.
H1: DAX moves between two daily zones (11,700-11620). It could not break the level 11,770. It tested back the sub-trend line (white line) and it went back to the 61.8% retrace of 11,377-11,925 rise (18/05/2015 low and 26/05/2015 high). The local tops are decreasing but the bottoms are at the same level. Difference compared to the H4 is that bearish dynamics have increased.
Rise: Further rise is expected if DAX breaks the level 11,770. Initial target price is the 161.8% and 200% retraces of top of 27/05/2015 and bottom of 28/05/2015. Both target levels nearly overlap H4 zones.
Fall: If DAX turns down and it breaks the daily level 11,620 fall may continue until the daily zone 11,300 but this it can be stopped by the H1 level 11,400 and by the upward trend line.
H1: DAX broke the daily zone 11,620 with a large-bodied candle in the morning then it tested back this level with a large-bodied, bullish candle with a long wick above. Then it fell until the H1-H4 levels (11,430-11,435). This is a strong support because the main trend line and the 200% retrace of 11,609-11,781 rise (26/05/2015 bottom and 27/05/2015 top) are here too.
Rise: Local tops and bottoms are decreasing so I think of upward entries until the correction levels of 11,795-11397 fall (27/05/2015 high and 29/05/2015 low). If the 61.8% retrace breaks with a significant candle further rise may be expected.
Fall: If DAX falls without any corrections initial target price is the daily zone at 11,300 then 10,970. Breaking the main trend line may bring downward movement in the longer term. In case of a correction take profit may be the value of 161.8% on the Fibonacci Retracement which is drawn on the prospective correction.
H1: Direction is not obvious compared to H4. In this time frame local tops and bottoms are decreasing however, dynamics turned bullish. There is potential in both directions.
Rise: As local tops and bottoms are decreasing I think of upward entries until the correction levels of 11,795-11397 fall (27/05/2015 high and 29/05/2015 low). If the 61.8% retrace breaks with a significant candle further rise may be expected.
Fall: If DAX breaks H4 level of 11435 with a significant candle then initial target price is the daily level at 11300 then 10970. Breaking the main trend line may bring downward movement in the longer term.
H1: As there was a consolidation so I draw the Fibonacci Retracement from the high of 27/05/2015. The instrument started moving downwards with powerful dynamics. It broke the daily zone of 11300 but the next candle closed back this level then DAX moved in a range.
Rise: Local tops and bottoms are decreasing. I think of upward entries until the correction levels of 11,795-11268 fall (27/05/2015 high and 02/06/2015 low). If the 61.8% retrace breaks with a significant candle which level nearly overlaps the daily zone of 11620 further rise may be expected.
Fall: If DAX breaks the D1 level of 11435 with a significant candle then initial target price is the daily level at 10970. This fall may be stopped by H4 levels of 11170 and 11080.
H1: The instrument started to move with increasing dynamics upwards yesterday. It closed above the H4 level (11435) and the main trend line but it could not stay there. The next candle became a shooting star which went near the 50% retrace of 11,795-11268 fall (27/05/2015 high and 02/06/2015 low) but it closed on the 38.2% retrace. DAX bounced down with a large-bodied marubozu from here but it went flat bythe end of the day.
Rise: If bulls take control again they can push the instrument until the 61.8% retrace of 11,795-11268 fall (27/05/2015 high and 02/06/2015 low). If the 61.8% retrace breaks with a significant candle which level nearly overlaps the daily zone of 11620 further rise may be expected.
Fall: Fall may continue from this level. Initial target price is the daily level at 11300. If DAX breaks this D1 level with a significant candle then take profit level is the daily level at 10970. This fall may be stopped by H4 levels of 11170 and 11080.
H1: The daily level of 11300 was broken by a large-bodied candle yesterday then DAX came near the H4 level of 11170 with a wick. Here is the 161.8% retrace of 11285-11465 rise (02/06/2015 bottom and 03/06/2015 top) too. Later DAX did a correction and broke the 61.8% retrace of 11514-11185 fall (03/06/2015 high and 04/06/2015 low). It came close to the top of 03/06/2015 (11465) but it bounced down with a bearish candle with long wick above. It could only fall till the former bottom.
Rise: If the H1 support (11230) will be strong enough (where DAX rests at the moment) then it can continue rising. Target price is the next H4 level at 11435. After breaking this zone the instrument may rise till 11620.
Fall: If DAX breaks the H1 zone of 11230 with a significant candle then target price is the 200% retrace of 11285-11465 rise (02/06/2015 bottom and 03/06/2015 top) which closely overlaps the H4 level of 11080.
H1: DAX reached the take profit level of 161.8% retrace (02/06/2015 bottom and 03/06/2015 top). The instrument is quite confused. Sometimes candle dynamic is bearish then it turns bullish.
Rise: For now DAX increased till the 38.2% retrace of 11450 and 11152 fall (04/06/2015 high and 05/06/2015 low). It may continue rising till 50% and 61.8% retrace levels. If the instrument breaks the 61.8% retrace it may rise till 11450.
Fall: After breaking the H4 zone of 11170, 200% retrace may be easily realized then it may continue falling till the daily zone of 10970.
H1: Bearish movement has been characterizing DAX since 21/05/2015. At the moment the price rests above the daily zone of 10970. There is a possibility for further falling.
Rise: I expect rising till the correction levels of 11450-10992 fall. All of these levels are found on technical zones so any of them can attract DAX.
Fall: If DAX continues falling without a correction so initial target price is the next daily zone at 10830. On the other hand, if the instrument corrects I draw a new Fibonacci Retracement from the bottom of 08/06/2015. In this case take profit levels will be 161.8% and 200% retrace.
H1: Correction did not occur yesterday. DAX came near the daily zone of 10830 with large-bodied candles but it failed to reach it. Bulls picked up strength and DAX started to move upwards. It tested back the yesterday’s bottom.
Rise: Rising is expected with initial sights till the correction levels of 11450-10864 fall. All of these levels overlap technical zones so any of them can attract DAX. If 61.8% retrace breaks with a large-bodied candle DAX may increase till the main trend line.
Fall: If DAX continues falling without a correction initial target price is the next daily zone at 10830 then the H4 level of 10710. On the other hand, if the instrument corrects I draw a new Fibonacci Retracement from the bottom of 09/06/2015. In this case take profit levels will be 161.8% and 200% retrace.
H1: There was a correction yesterday what is more the 61.8% retrace of 11450-10864 fall (04/06/2015 high and 09/06/2015 low) was broken by a large-bodied candle. Although, it may indicate falling because it has a long upper shadow.
Rise: There is a possibility for rising too because dynamics are bullish but the main trend is still bearish. Initial target price is the H4 zone at 11435 then the daily level of 11620. The main trend line may stop this rise.
Fall: If the technical level of 11230 will be strong enough bears may take control. I expect falling till the bottom of 09/06/2015 first then till the 161.8% and the 200% retrace of 10878-11296 rise (09/06/2015 bottom and 10/06/2015 top).
H1: DAX has entered an area where even range can develop. It is above the correction levels although, the H4 zone of 11435 is a strong technical level. It may be difficult DAX to be able to overcome 11435.
Rise: DAX may continue rising as it reached the 100% retrace of 11450-10864 fall (04/06/2015 high and 09/06/2015 low). Target price is the next daily level of 11620 then 11770.
Fall: There is a possibility even for fall as DAX turned down from the H4 level of 11435 with a large-bodied candle and it moved back under the subtrend line. Initial target price is the bottom of 09/06/2015 then the 161.8% and the 200% retraces of 10878-11437 rise (09/06/2015 bottom and 11/06/2015 top).
H1: The main trend line was broken on Thursday but afternoon a large marubozu broke back this slanting resistance. On Friday the instrument reached the H4 level of 11080. DAX bounced up with an engulfing from this technical level which overlaps the 61.8% retrace of 10864-11453 rise (09/06/2015 low and 11/06/2015 high).
Rise: If the (white) correction trend line and the last top breaks over, it increases its odds of rise. Target price is 161.8% and 200% retrace of 11437-11078 fall (11/06/2015 top and 12/06/2015 bottom).
Fall: Falling may continue if the bottom of 12/06/2015 breaks. Take profit levels are 161.8% and 200% retraces of 10878-11437 rise (09/06/2015 bottom and 11/06/2015 top).
H1: The first candle broke the bottom of 12/06/2015 (11078) and the 61.8% retrace of 10864-11453 rise (09/06/2015 low and 11/06/2015 high) but the instrument was not able to draw strength from it and DAX aimlessly moved between two technical levels.
Rise: DAX may turn upwards if the bottom of 10878 will not break and the daily zone of 10970 is able to hold the price. Initial target price is the top of 11437 (11/06/2015) then 161.8% and 200% retrace levels of 11453-10972 fall (11/06/2015 top and 15/06/2015 bottom).
Fall: I expect falling in the longer term if DAX breaks the daily zone of 10970 and the bottom of 08/06/2015. Take profit levels are 161.8% and 200% retraces of 10878-11453 rise (09/06/2015 bottom and 13/06/2015 top).
