DAX - Weekly Market Thought 03072010

Germany's DAX index fell 236 points this week.

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

Bullish pattern ‘higher highs, higher lows

Last Cross EMA - Bullish 28-08-2009 = 5036

Market losing momentum last months but hold for now key suport area = 5589.

Testing and close this week lower band of the channel. Stay alert next week can breakout, MACD give us very bearish indication of that last weeks.
Follow thought daily chart to see the targets.
Suport: 5589 and 5817
Resistances: 5958 and 6150

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Click to zoom in. Good Luck folks and have a nice weekend.

DAX - Weekly Chart

DAX - Weekly Market Thought 03072010