Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


Search This Blog

Tuesday, January 24, 2012

Weakness expected..when to buy again?

Dax down 1 %, FTSE down 0.8 % Euro consolidating recent gains..
so when to BUY again?

DAX 15 mins chart showing support levels
aggressive buy here at 6360

more conservative wait for a confirmed short term bottom and then buy, could even go as low as the GAP

DAX 3 hrs

DAX daily

Also a bit overbought but RSI now out of overbought zone

Finally a look at the FTSE 4 hour chart

we can see the area marked consolidation and we had a push out of that to 5780 level..now we may get a retest of the 5720 level (marked by red arrows) which acted as resistance, and should now be support.  If markets are as strong as they seem possibly we don't even get to 5720.  Otherwise a test of 5729 would be good long entry again.

Targets for DAX medium term are here

No comments:

Post a Comment

Total Pageviews