DAX has made a broadening top aka megaphone pattern and the range is looking very wide. If the price hits specific zones we will probably see the reaction.
Selling zone 15500-635 has made a confluence with W H3 and M H5 camarilla pivot. We should see selling if the price gets to the zone.Buying zone is 14778-14861. If the price gets there we might see buying opportunities. In between, is the no-man’s land. In my opinion, the price will range between B and S zones without a clear direction. Watch for Weekly camarilla levels until the end of a week.
The analysis has been done with the CAMMACD.Core System.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
View more information: https://www.fxstreet.com/analysis/dax-wide-range-due-to-the-megaphone-pattern-202105190736