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Sunday, December 13, 2009

Xmas charts..


Looks like one more push up to 5670 level possible, especially with the predicted "father christmas" rally. If break the mini channel a move to the lower side of the channel, IF that breaks then rally is over for a while.



DAX is forming a clear triangle, a clean break above 5800/5840 targets 6200/6350 (61.8% retrace of fall from highs)  On the downside it looks like 5580/5530 is key, followed by 5250 (50 % retracement level, and resistance/support)



Weekly chart show we are still near some strong resistance 10500 level, a clean break above this can target 11200, possibly ending this rally.


Daily chart shows a bit more detail..range bound for last few 10200 key on downside, 10500 key on upside.

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