vlad.adrian
Long

Dax - Correction over, time to rally

EUREX_EOD:FDAX1!   DAX (CONTINUOUS: CURRENT CONTRACT IN FRONT)
145 2 2
There is not that much to say about this chart, no need for indicators either. I believe that all European markets are going to rally in the coming days, couple of weeks. Dax             seems one of the strongest, because it shows relative strength .

Price broke down local support at 9800, everybody got very bearish . Today we got again back over that S&R level and I believe we are due for a rally, especially if we look at the weekly chart which stands at value! We are still in a bearish divergence, but the way the wave acts as support can't be ignored and there's a chance that this correction was all the bearish divergence had to offer. I expected a heavier correction, but it looks like this is all we got.
Weekly here :

This goes for all European markets!
uhhhhh ;-)
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uhhhh why don't you comment on this one big man ?
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