The DAX confirmed a session of consolidation forming a new inside day with now 6055 – 5757 the levels to follow in the coming hours. A break of the support confirmed by a daily closing will resume the decline suggesting a retest of the support line at 5570 if not even a retest of the previous low we had in September!! The indicators of the daily chart are now turning below the line while those of the s/t ones are already below the line supporting further weakness.
The DAX is still below the 200 hours line at 6018 and while below this resistance the scenery is negative suggesting a possible break below 5767!!
We remain on the sideline but will try a long position in case of a test of the support line at 5590.
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FUTURE TREND RESEARCH