Sunday, August 22, 2010

DAX - Weekly Market Thought 22082010

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.
Close this week near 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 short-term 2010/08/dax-daily-market-thought
Suport: 5671, 5905 Resistances: 6320 and 6404
Click to zoom in.

DAX - Weekly Chart


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