DAX is at a Pivot, potential for bounce

Type:

Bullish Bounce

Resistance: 15615.04

Support: 15375.94

Pivot: 15450.25

Preference:

DAX have recently broken out of our descending trendline and have since tested it at our Pivot at 15450.25 in line with 61.8% Fibonacci retracement and also a graphical overlap and has the potential to climb towards our 1st resistance at 15615.04 in line with 100% Fibonacci extension.

Alternative Scenario:

Alternatively, prices might dip towards our 1st support at 15375.94 in line with 38.2% Fibonacci retracement.