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DAX is Extremely Bullish but Close to Monthly Resistance

By:
Nenad Kerkez
Published: Feb 8, 2021, 08:36 UTC

DAX is very strong and its in uptrend without big retracements. However, it is getting close to monthly resistance.

DAX

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DAX is very strong and its in uptrend without big retracements. However, it is getting close to monthly resistance.

M H5 camarilla resistance is important for the next decision where the price will go. 14170-14250 is the zone where rejections might happen and where sellers or profit taking might take over. Targets are 13829 and 13595. Those two zones could make the price bounce. However, for the next move the price will either retrace or bounce above 14251 before any retracement. Selling might be the option at the top.

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Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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