Dax H1 is at Pivot, in-line with 78.6% Fibonacci Retracement and Descending Trendline Resistance, where we may see a drop towards 1st Support, in-line With 61.8% Fibonacci Extension. If price fails to hold under the Pivot Point, we may see it swing up towards the 1st Resistance, in-line with 78.6% Fibonacci Retracement, and Horizontal Swing High.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.