DAX Emerging MA50/MA100 Bullish Cross on the 4H.

16 dic 2021

DAX appears to have completed the short-term profit taking pattern as presented last week on the following analysis:

The 1D MA200 held and the index can now resume the uptrend towards the top of the long-term Channel Up. On today's analysis I shift focus to the 4H time-frame where the 4H MA50 (blue trend-line) and the 4H MA100 (green trend-line) are close to forming a Bullish Cross. Last time that happened was in October 20 and resulted in a massive rally to 16300.

All the price needs to do is clear the 4H MA200 (orange trend-line) which rejected the rebound today and break this short-term Bearish Megaphone. At the same time the 4H MACD just printed a Bullish Cross as well, while the Higher Lows trend-line from the November 30 market bottom is holding firmly. We are looking for a medium-term rise around the 1.5 Fibonacci extension (16300).


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