DAX Analysis April 2015 (D)

We are looking for the final high to the bull market and I think we are very close. Let’s take a look using the daily chart.


We knew from the last analysis in March that price was likely to head up further as the lower indicators were too strong for a final high. Price has subsequently traded up to 12219.
This high has already set up bearish divergences on the Relative Strength Indicator (RSI) and Stochastic indicator while I would like to see the final high be accompanied by a triple bearish divergence. Let’s see.
The Moving Average Convergence Divergence (MACD) is sill yet to show a bearish divergence but I would like to see one set up before calling the final high.
The move down from the recent high looks like a simple ABC correction and price has now headed back up and has new highs in its sights.
The Parabolic Stop and Reverse (PSAR) indicator now has a bullish bias after busting the dots on the upside yesterday.
Summing up, I think we are very close to the final high. I suspect we will see one last marginal high above the March high which would set up a false break high.


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