Title
DAX H4 | Reverse to support level
Type
Bearish Reversal
Preference:
The price could rise to pivot at 17066.26, the swing-high resistance, from there it could reverse to the 1st support at 16874.83, the pullback support.
Alternative scenario:
It might break out of pivot and rise to the 1st resistance at 17133.66, which aligns with the 127.2% Fibonacci extension level.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.