Wednesday, March 10, 2010

DAX – Daily Market Report 11032010

Nothing new today - another high.

Head shoulders underway. 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 Bullish ( reversal today again).

Indicators short-term extremely overbought bearish divergence last two highs need confirmation with close below 5838 ( hourly chart)

Resistance 5964. Good luck..




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