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DAX – Cup and Handle Pattern

The DAX is forming a Cup and Handle Pattern (Cup is close to finishing, Handle next). A Cup and Handle Pattern is a Bullish Continuation Pattern.

Currently, my view is that the Cup is close to finishing and we should expect the Handle (test of 11.300 – 10.700) to be formed over the next couple of weeks/months (next major cycle dates are early April and early June). Once the 12.400 breaks to the upside, it’s confirmation that the uptrend will continue.

Based on this pattern, the DAX 11.900-12.400 should be sold for 1st target 11.300 and 2nd target 10.700. Longer Term, we should buy the dips in my view, especially if the 12.400 breaks to the upside.

Last but not least, the RSI is showing Bearish Divergence, which is often followed by bearish price development.

Be prepared to buy the dips for the flight to private assets!


DAX Cup and Handle Pattern – Bullish continuation: Test 11.300-10.700 and break out > 12.400? 


 


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Check out the Documentary here: Documentary “Missing Links – The Cycles of Time” 



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