The DAX failed to confirm Friday’s positive day reversal plunging instead lower retesting the lows. The drop found however good support for now above 5750.
The indicators of the daily chart have turned negative and also those of the s/t ones are below the line. Bullish divergences in the hourly chart confirm now a negative. While below the 200 hours line at 5853 we have therefore to expect lower levels and this could mean even a drop toward the gap up area 5567 – 5463.
For now we are still long but wait for a possible rebound this morning to sell.
Despite the change to negative of the s/t scenery we still believe in a year end rally, but probably form lower levels.
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http://www.easyforexnews.net/wp-content/uploads/2011/12/DAX-12.13.11.pdf
FUTURE TREND RESEARCH