Monday, April 16, 2012

DAX (Germany)

The DAX daily chart updated below, shows the market could still be in a WAVE 4, with the final wave 5 up to come.  Where is it likely that wave 4 will end?

Well price action is nearing trendline support at 6490 (ish) which is also near top of wave 1 at 6430.

DAX 30 minutes

shows we could be finishing a wave 3 down with a 4 up and final 5 down to complete wave 4.  This pattern could also tie in with a false break down in the EURO and Copper

US markets also seem to need a little more downside corrective action..

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