DAX May break lower from this point

DAX is trading on a Bullish Megaphone inside a five month Rising Wedge. The 1D time frame is in green (RSI = 60.102, MACD = 197.500, ADX = 27.090) but the 1D RSI has been sideways at best (if now on LH) for as long as the Bullish Megaphone trades, which is a bearish divergence. This is similar to the RSI formatio of the last Wedge High on Dec 13th after which a correction to the 1D MA50 took place.

Our plan is to take a tight long at 15,180 and if the price crosses below the Rising Wedge, enter it on the 1D MA50. In both cases we target 16,000.


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