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Daxforecast

DAX Key Support at 9,900DAX Look: return to levels of demand The key short-term support is at 9,900 points. DAX drop 1,03% which falls at about 14:30 hours of today's session. This has led to the price of our indice to close the gap at 10.057 points. Short-term the trend is bullish (until the price stay inside the channel DAX still in bullish mode) . We do not appreciate any sign of weakness but to see a very bullish signal should wait for a close above 10.365 points (highs of this week).
FX:GER30Long
by Leo.Ash
DAX Daily - BearishThe DAX30 index is moving in a descending wedge, which is a bearish formation. We can see that the market respects the formation, in which an overshoot of the upper trendline resulteted in an overshoot in the ABCD move (Which then hit the support line). We have a major ABCD move going in bearish direction down to 8350 and combined with the formation, it would be fair to guess we should be going down. We therefore have 3. scenarios. 1) We rally up to the 10400 area, before sellers slams the price down through 9300 and all the way to 8350. 2) Buyers rally the market up over the upper trendline, where a likely pullback will occur shortly afterwards, which will, it held, result in a bullish market. 3) We bounce some more inside the formation before 1 or 2 happens.
INDEX:DEU40Short
by Mikkelfo