This is the nearest futures chart.I have drawn a trend-channel and put some simple Gann cycles in.The coincidence of time cycle and channel support comes in around 5000 (circled area).The Dax likes to make ranges that respect the Gann circle numbers (360,540,720 ,900 etc) 6099 minus 1080 gives 5019. 3588 plus 1440 gives 5028. Fibonnaci targets from the 2 main ranges yield targets of 4843 and 4858 (50% of major range,78.6% of 2nd range)
This suggests we could spike down to 4850 area in early March,with 5000 as likely closing support.
No comments:
Post a Comment