Tuesday, March 9, 2010

DAX - Daily Maket Report 10302010

Market close today 3 points above 5883 noting awesome.
Head shoulders underway>>> formation broken last tuesday.
Target Head shoulders 6050 follow this scenario above 5740.
Suport: 5650 and 5690, 5740 and 5838 (add today lows).
Stay bullish above 5838 short-term. Close hourly below 5838 expect/target 5740 possible extension to 5650.
Last cross EMA Bearish. Indicator testing the trend >> possible reversal soon.
Indicators short-term extremely overbought bearish divergence last two highs need confirmation with close below 5838 ( hourly chart)
Next Resistance: 5910 and 5964. Good luck...


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