The DAX failed to confirm the previous week’s positive week reversal closing instead again below the 200 weeks line. The daily closing was mixed but of course well below our expectations and today’s open was with a small gap down causing further direct weakness. The drop already took out our stop !!
The indicators of the weekly chart are negative as well as those of the daily one supporting further possible weakness. Those of the s/t ones are also negative supporting further weakness.
Possible a direct move toward 5550/40 where we want however to try again a long position. We strongly believe in a end of the year rally that we don’t want to miss!!
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http://www.easyforexnews.net/wp-content/uploads/2011/11/DAX-11.21.pdf
FUTURE TREND RESEARCH