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

— Marcus Aurelius


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Monday, September 17, 2012

Short term overbought, Long term still UP

The charts below are pretty self explanatory.
Short term DAX has gapped up, and has a tendency to fill the gaps.  So a fall to around 7300 may be on the cards, HOWEVER if the market stays above here, and works off the overbought condition, then it may launch higher, attacking resistance at 7450/7500.  

Range 7266 -7470 for a few days.

BUY the dips! 
The Weekly and Monthly charts show the declining resistance.

IF we get a sustained break out, DAX could see as high as the ALL TIME HIGHS @ 8100 (10 % higher from current levels)

DAX 2 hr chart

 DAX daily

DAX weekly

DAX monthly

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