(6126) The DAX formed on Friday a negative outside day reversal with now 6275 – 6055 the levels to follow in the coming hours. A daily closing below 6055 will support a deeper correction. The indicators of the daily chart are however still well positive but those of the s/t ones turned below the line supporting further weakness. While below 6152 on an hourly closing we expect an extension of the correction toward the 200 hours line at 6047( that is also the target of the double top the DAX formed above 6260!!) but the chance are increasing for even a direct undershooting suggesting a test of the 5900 area!!
We suggest waiting for this possible extension to buy again the DAX.
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FUTURE TREND RESEARCH