Friday, June 18, 2010

DAX - Daily Market Thought 21062010

For now trend bullish all time frame. Still valid bullish price channel. For now bullish pattern ‘higher highs, higher lows.
Nothing new last sessions hold key suport area and broke resistance.
Next resistance 6232 test today but close below still valid represent 137% fibanacci extension next fibonacci 6272.
Second session unable to break 6232 mybe dax have found important resistance for short-term. Let see reaction monday.
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: 6232 and 6310
Click to zoom in. Good luck.

DAX Daily Chart


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