The DAX confirmed another weak closing last night suggesting further downside risk and this could mean still a drop toward the gap up area 5567 – 5463.
The indicators of the daily chart are still well negative and also those of the s/t ones are below the line supporting further weakness. Bullish divergences in the hourly chart confirm the negative tone.
Only an hourly closing above 5715 will favour a small rebound suggesting a rally toward the 200 hours line, that we find today at 5886. This move up is corrective and a possible selling opportunity for a drop below 5600! We remain long waiting for a decent correction. In case of a direct sell off toward the gap up area we will increase the position at 5530!!!!
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FUTURE TREND RESEARCH