The DAX confirmed a very weak closing starting however today’s session with some buying interest. Only an hourly closing above 5593 will confirm a s/t bottom completing also a double bottom in the hourly chart!!
The indicators of the daily chart are still well negative as well as those of the 4h one where we have also oversold conditions. The indicators of the hourly chart turned instead above the line supporting a correction. While above 5500 on an hourly closing we favour another test on the upside suggesting even a 5593 overshooting!
We bought some at 5519 bringing the average to 5542,50.
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/11/DAX-11.24.pdf
FUTURE TREND RESEARCH