Thursday, July 1, 2010

DAX - Daily Market Thought 02072010

Today dax test and hold for now EMA 200 at 5826. " Important dax hold this range [5700,5800].
Remember thought last weeks " Still valid bullish price channel. For now bullish pattern ‘higher highs, higher lows."
Temporary double top is formed below 6150 " this is key level upside.
EMA`s-Last Cross Bullish ( but stay alert very close reversal again)
Remember bearish divergence weekly chart last weeks, give us alert trend long-term can chance soon.
Close daily below 5600 expect more damage,  first target 5400 possible extension to 5170.
We will follow this thought if dax close below 5600 next sessions, this is key nevel dowside.
Click to zoom in. Good luck folks.

Resistance: 6050 and 6150 / Suport: 5600, 5700 and 5826.
Click to zoom in. Good luck folks.

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