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FX.co ★ DAX, D1 | Trend line breakout

DAX, D1 | Trend line breakout

Price has broken an ascending trend line suggesting we might see a big bearish move. There's also a strong bearish divergence vs Stochastic lending more confidence to our bearish call. However, there is a big overlap support at 14877 which is also a 23.6% Fibonacci retracement that needs to be broken to trigger a drop.

Take note that there is a strong Ichimoku cloud that price needs to cross below too to trigger the big drop.

DAX, D1 | Trend line breakout

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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