DAX Bears Might be Waiting at the POC Zone

The DAX has been in uptrend as the equities have moving generally higher. However, it is getting closer to important resistance.

W H5 and D H5 are resistance pivot points which also make a strong confluence with 88.6 % fib. 13050-60 zone could reject the price lower. Targets are 12958, 12889 and 12797. If D L5 breaks then next level will be 12725. However if we see the close above 13065, the price will remain bullish and upward bounce might target 13129.

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Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.