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Quick Technical Overview - DAX Index: ranging bearish with the first pivot support level as the target

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by , 01-27-2016 at 05:56 PM (1157 Views)
      
   
Weekly price is on bearish market condition for ranging between Central Pivot at 10807 and S1 Pivot support at 9190: the price was on breakdown with the bearish reversal in the beginning of this year by Central Pivot crossing from above to below so the price was fully reversed to the primary ebarish market condition. If the price breaks S1 Pivot at 9190 so the bearish breakdown will be continuing, otherwise - ranging bearish within the levels.

Instrument
S1 Pivot
Yearly PP
R1 Pivot
GX 9190 10807 12317

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If W1 price will break Central Pivot at 10807 so the reversal of the price movement from the primary bearish to the primary bullish trend will be started.
If W1 price will break S1 Pivot support at 9190 on close W1 bar so the bearish trend will be continuing.
If not so the price will be ranging between the levels.
Trend:

W1 - ranging bearish

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