Mini DAX Futures (FDXM1!), H4 Potential for bearish drop
Type : Bearish Drop
Resistance : 13340
Pivot: 13004
Support : 12591
Preferred Case: On the H4, with price expected to reverse off the stochastic resistance, we have a bearish bias that price will drop from pivot at 13004 where the pullback resistance is to the 1st support at 12591 where the swing low support and 100% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 13340 where the overlap resistance, 61.8% fibonacci retracement , -61.8% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: Due to the extended Nord Stream 1 halt, we have a bearish view on the DAX Index .
Resistance : 13340
Pivot: 13004
Support : 12591
Preferred Case: On the H4, with price expected to reverse off the stochastic resistance, we have a bearish bias that price will drop from pivot at 13004 where the pullback resistance is to the 1st support at 12591 where the swing low support and 100% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 13340 where the overlap resistance, 61.8% fibonacci retracement , -61.8% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: Due to the extended Nord Stream 1 halt, we have a bearish view on the DAX Index .
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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