The DAX confirmed a session of consolidation just below the top of the previous one. It formed a new inside day with 6145 – 5694 the levels to follow in the coming hours. A daily closing above 6145 will suggest a possible move up toward the 6440 key level!!
The indicators of the daily chart are still well positive while those of the s/t ones turned mixed suggesting further consolidation. The move up did still not form divergences failing therefore to change yet the tone to positive!!
However, while above 6015 we expect the DAX to resume the move up suggesting a rally toward the 6300 area where we still want to go short!
A break below 6015 confirmed by an hourly closing will cause a return toward the 200 hours line at 5770!!
We remain on the sideline for now.
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/12/DAX-12.02.11.pdf
FUTURE TREND RESEARCH