Thursday, June 17, 2010

DAX Daily Market Thought 18062010

For now trend bullish all time frame. Still valid bullish price channel.

For now bullish pattern ‘higher highs, higher lows
Close near the highs again > nothing new last sessions hold key suport area and broke resistances.
Next resistance 6232 test but close below still valid represent 137% fibanacci extension (major fibo),  next fibonacci 6272.
Reversal trend need
- first signal close below 6140;
- confirmation with a close below 6093.

Close daily below 6093 expect 5980 possible extension to 5800.
Suport 5800, [5960,5980],6093 and 6140 / Resistance: 6194, 6232 and 6310
Click to zoom in. Good Luck folks.

Dax Daily Chart


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