DAX 30 - Nov 02, 2016

by Evgenia Gencheva Wed Nov 02, 2016 9:54 am

DAX broke the bullish expanding triangle in which was entered last week. Actually this breakdown is surprise for me, as I said already absolutely illogical movement, it must be breakout, according to the trend. No matter of that, DAX is over diagonal support of down line of bullish chanel. Also we don't have falling out of the first part 61.8% of level 10829.10 - 9152.50.
For today, I expect for DAX do find support over sma100, daily 10321.
Other reason for my expectation are another 2 waves, based on h4 chart and cross sma 50, 100 in progress over the price.
The corrective wave will be to 10550, but not today.

https://i.servimg.com/u/f97/19/53/74/92/forex235.png

https://i.servimg.com/u/f97/19/53/74/92/forex237.png