The Index can form a Double Bottom Pattern if it trades near 15745, it is subjective we have to wait for the index to trade till that level, if the pair is not able to trade near the above level within a week or the index corrects below the previous low we will ignore the formation.

Currently the Index is showing buying pressure. A risky trader can buy the index at current rate and trade till 15745.

The price is trading above the EMA which is indicating a positive trend. The RSI is following the trend and we expect the same in the coming days. RSI trading above 53 can be a very good sign for buyers.

Advice : Risky traders can buy at current rates.

DAX

Feb 09 2022