The DAX confirmed a weak closing last night well below the support of the positive outside day. The drop favoured a test of the 200 hours line this morning that we bought as suggested at 5820.
The indicators of the daily chart closed below the line and also those of the s/t ones are negative with already oversold conditions in the hourly chart. The drop failed however to confirm divergences for now suggesting it was just an undershooting and this is also the reason why we bought the DAX!!
We expect a retest of the 5920 area but do not forget we have also a potential positive reversal situation!!
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http://www.easyforexnews.net/wp-content/uploads/2011/12/DAX-12.09.11.pdf
FUTURE TREND RESEARCH