FX:GER30   DAX index of German listed shares
78 0 1
I usually use the hourly chart to analyze the short term evolution. Nevertheless the monthly chart gives a powerful view of the long term. In this chart, I describe my interpretation of the wave count situation of the DAX             . We are riding a third wave with strong impulse that broke a corrective triangular formation. This wave may not be over yet (most likely it will continue until the 13000 mark). The May candle is the first one with a lower high and lower low of the last 7 monthly candles. This is important because it emphasizes the criticality of this candle low as a support: the support level at 11150 must hold to keep believing in a new impulse towards the 13000. In fact, if we loose the 11150, expect more sells in the coming weeks.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out