Oct. 5: Support & Resistance Levels for DAX & CAC
I'm seeing DAX, the German stock market index, it has reached the overbought zone. On the daily chart, we can see a "Hanging Man" the candl
I'm seeing DAX, the German stock market index, it has reached the overbought zone. On the daily chart, we can see a "Hanging Man" the candlestick pattern. As we know, it signifies a reversal pattern. So, it's very likely to initiate the sell in DAX.
Let's take a look at weekly trading levels for the DAX (German Index) & CAC (France Index). In addition, refer to FX leader support and resistance trading strategy article in order to trade below levels profitably.
DAX – Weekly Trading Levels
Support Resistance
S1: 12,634.69 R1: 12,642.85
S2: 12,564.60 R2: 12,931.69
S3: 12,451.15 R3: 13,150.60
Key Trading Level: 12,748.15
CAC40- Weekly Trading Levels
Support Resistance
S1: 5,274 R1: 5,332.58
S2: 5,256 R2: 5,350.61
S3: 5,227 R3: 5,379.80
Key Trading Level: 5,303.40
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