By Claus Andersen
23. September 2019
60 min chart:
// DAX 1-1
The trading range context on the 60 min chart I mentioned about last week came true. We are now trading sideways and price attempted to break lower. The follow through on the BO attempt was bad, and bulls pushed price back up into the range.
So now what? We traded up into a trading range. That favors a BO to the upside. Most breakout attempts fail. So most likely is a test of bull strength. If bears are stronger we will get a lower high. Probably at 12.400 ish.
Support and resistance levels adjusted in this chart.
Have a nice trading week.