DAX: Channel Down formed a new top.Germany 40CAPITALCOM:DE40InvestingScopeDAX remains marginally bullish on its 1D technical outlook (RSI = 56.055, MACD = 147.200, ADX = 25.024) but has turned bearish on the 1H and 4H timeframes as the recent 4 week rally got rejected at the top of the wider Channel Down pattern. Technically that was its bullish wave and got completed. A cross under the 1D MA50 would serve as validation for the start of the bearish wave. The one prior targeted the 1.382 Fibonacci extension. Expect a similar target (TP = 21,000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##