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Daimler (DAI.DE) Breakthrough the bearish channel, possible long

DAI.DE D1 Our expectations:

The short trend is questionable once the movement emerges from the price channel. Gap for long and successful test of at a key level provides a good opportunity for entering in position with a close stop.

Price action: Gap for long.

Indicators:
Test of 23.6 Fibonacci.
Price above 50SMA and below 200SMA.
DeMarker turns below 0.7 – here we have a mismatch between Price action and the indicator.

SL: 48.40

Alternative Scenario: If the price return again in the bearish Trend Channel, the short trend most likely will continue.


 Trader Georgi Bozhidarov


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