Wednesday, September 29, 2010

DAX topping or consolidation?

Dax has been in a range since Feb this year... UPPER BOUNDARY at 6360

 Could be an ascending triangle (bullish scenario) with a break above 6360 signalling new highs..OR could be part of a rising wedge (which if it breaks t the downside would be BEARISH).

Since we are near the TOP of the range got to be short here, looking for at least  a test of the lower boundary, or a decisive break lower (VERY BEARISH).

The weekly chart shows possible rising wedge, and the range bound formation, in relation to the all time highs

No comments:

Post a Comment

Total Pageviews