Facts:
DE40 bounced off the lower limit of 1:1 structure
German index is trading in an upward channel
Recommendation:
Trade: Long DE40 at market price
Target: 23400, 23540
Stop: 23076
Opinion: Looking at the DE40 chart, one can see a potential upwardtrend resumption. The recent downward correction stopped at the key support area. The aforementioned support results from the lower limit of the 1:1 structure and the lower limit of the upward price channel. Taking this into account, upward movement seems to be the base scenario. We recommend going long DE30 at market price with two targets: 23400 and 23540. We also recommend placing a stop loss order at 23076. Source: xStation5
