CapMoore

DAX Facing Resistance by Yearly R2

FX:GER30   DAX Index
130 0 1
The breakout above 10000 which was the 127 extension of the
minor ABCD , somewhat aligning with the major ABCD's D-level,
has quickly taken index to the next major resistance level ,
Yearly R2 and Monthly R1 (slightly above). This level is also the 127 extension
of the major ABCD . If we see a weekly close above Yearly R2 and
Monthly R1, it will just add to current bullish bias. Above resistance
is 161 ext 11480, Yearly R3 at 12200 abd             then a cluster at 13000-13250.
A weekly Red close below Yearly R2 may give a correction towards
Yearly R1 at 10460 and lower the previous consolidation high around 10000.
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