The DAX formed yesterday a positive outside day reversal with now 5820 – 5645 the levels to follow in the coming hours. A daily closing above 5820 will already resume the move up suggesting a 6000 overshooting!!
The indicators of the daily chart are however still well negative as well as those of the 4h one keeping the index under pressure. Only the indicators of the hourly chart returned above the line supporting a correction. Today’s session started with a small gap up that we’re already retracing. We expect some support at 5740 from where we could see another test on the upside. Only an hourly closing above 5807 will however support higher levels with the 200 hours line at 5916 the attraction.
We still remain long waiting for the decent correction!!
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FUTURE TREND RESEARCH