The DAX confirmed a weak closing, below the support of the outside day, suggesting further downside risk toward the 5585/35 gap up area!!
The indicators of the daily chart are still well negative as well as those of the 4h one. Only the indicators of the hourly hart are already returning above the line this morning after however having formed bullish divergences.
In the hourly chart we have a reversed S_H_S formation with the neck line at 5776. A break below 5614 will however already abort this formation re-launching the decline.
We are still long for a possible rebound. We will however increase our position in case of a 5550 undershooting!!
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http://www.easyforexnews.net/wp-content/uploads/2011/12/DAX-12.20.11.pdf
FUTURE TREND RESEARCH