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

DAX Daily Market Thought 18062010