There was an error in this gadget

Mood!

Wednesday, March 7, 2012

DAX different time frames. Full Moon tomorrow

After the DAX fell over 3 % yesterday, today SHOULD see some form of consolidation of the move down.  How it transpires will show if there is further weakness in the markets.  FULL MOON tomorrow



DAX 1 hour chart

On the chart are drawn black arrows (purely speculative) of how this correction could take place..
Targets around 6400 for DAX, before the rally continues.


DAX 3 hr chart


In this chart we can see that price is getting close to the top of the shaded rectangle, previous resistance, so a pause there should be in order.  A break below that would target the base of the rectangle.




DAX daily


The daily chart shows the NEGATIVE DIVERGENCE(price/RSI)  which translated into yesterday's fall.
Major support is now 6400, if this move is a correction it may take a few days/ week to get there.  
200 day ma support at 6274




DAX weekly

The DAX weekly shows the possible Elliott Wave count, and we can still be following either the red scenario, or the black arrow scenario.
Either way it is clear that the major support is at 6400 or just below


1 comment:

Total Pageviews