Weekly chart:
In the big picture we have a young uptrend, with a correction zone between €80.69 and €70.81. The lower limit of this correction zone has already been tested several times, but it was able to provide enough support each time. At the moment we can observe efforts to pick up the upwards trend once more.
Daily chart:
In the daily chart we can also see a young uptrend with a correction zone between €77.59 and €73.67. The last correction led the price into this zone and is now offering possibilities to speculate on a continuation of the trend. The stop should be located beneath the green correction zone.
Hourly chart:
Last but not least, we can also see a nice uptrend in the hourly chart, with a correction zone between €77.59 and €73.67. The DowHow setup is showing the green arrows in the chart, which indicates our desired signal. A long trade would be available here; the stop should be placed beneath the green correction zone.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Trader asset management
BORN STAHLBERG & Partner
AgenaTrader Trading Software
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