DAX: The 1D MA50 is holding. Expect rally.

11 nov

DAX is neutral on its 1D technical outlook (RSI = 53.908, MACD = 41.600, ADX = 23.126) as the price has been basically ranging since November 6th. The dominant pattern is still a Channel Up and it has held the 1D MA50 as support on multiple attempts since October 31st, which is a clear technical signal of an upcoming rebound. The last two HH tops were priced on the 1.786 Fibonacci extension and that is our target for this month (TP = 20,150)

See how our prior idea has worked out:

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##