GER30 - Intraday - We look to Buy a break
Price action has formed a bullish ending wedge formation.
We are trading close to the end of an ascending Ending Wedge Formation.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
Short term MACD has turned positive.
Our outlook is bullish.
Our profit targets will be 12834 and 12888
Resistance: 12600 / 12740 / 12835
Support: 12550 / 12450 / 12330
Price action has formed a bullish ending wedge formation.
We are trading close to the end of an ascending Ending Wedge Formation.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
Short term MACD has turned positive.
Our outlook is bullish.
Our profit targets will be 12834 and 12888
Resistance: 12600 / 12740 / 12835
Support: 12550 / 12450 / 12330
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Trade closed at Breakeven
