Let’s review the indications of the MACD. Despite the fact that DAX 40 maintains a downward trend, the MACD indicator has changed direction to an upward one. The reversal pattern is marked with a green line.
The RSI has dropped below 30. This is a signal that a downward movement is prevailing, but the indicator very rarely stays below 30 for a long time. Often after this there is a correction or a price reversal.
There is the blue main line above the red signal line on the Stochastic indicator. The reversal pattern has not formed yet.
It is recommended to prioritize long positions on DAX 40 in the current situation. Entry points can be selected both at current prices and based on an outcome of a retest of the specified resistance level.
📌 Entry: 24704.34
✔️ First target: 25015.59
✔️ Second target: 25262.97
❌ Stop order: 24521.47
DAX 40 M15: An upward reversal signal was received from MACD
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