Dax, Price action

By Claus Andersen

17. September 2019

15 min chart:

This week the uptrend paused. Price broke the bull trendline and made a lower low. Price is still AIL on the weekly, daily and 4 hour chart. On the 60 and 15 min it is in a trading range. This could be the final stages of the bull trend.  Often after a trendline break we get another test of strength in direction of the trend. In this case to the upside. I will be more inclined to swing longs from support of the trading range than shorts from the resistance in the range. There is a lot going on and the major players have paused for a while. Be aware when it starts to move again. The bull trend from last week gave 300 points from low to high. 

Support and resistance levels adjusted in this chart.

Have a nice trading week.

Claus Andersen

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