DAX is reacting above pivot, potential for further upside | 21 Sept 2021
Type: Further Bullish Upside
Resistance: 15,445
Support: 15,000
Pivot: 15,214
Preference: DAX H4 is reacting above pivot where we may potentially see further upside towards 1st Resistance, in-line with 61.8% Fibonacci Retracement and 127.2% Fibonacci Extension
Alternative Scenario:Alternatively, If price drops from the pivot, we may see it swing towards 1st Support, in-line with 100% Fibonacci Retracement and 161.8% Fibonacci Extension
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.