Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Thursday, November 10, 2011

DAX Technical Analysis 2011.11.10

Is this just a pullback in a down trend?


DAX Index broke the neck line yesterday, signaling a continuation of the down trend. As I expected, there is a retest of it (pullback) that can offer a good opportunity to sell.

The resistance area is between the 5,800 – 5,900 levels (the neck line and the t1 trend line) and the eventual failure of the bulls will set the market for lower lows in its way of achieving the H&S target in the 5,140 area.

The indicators are also revealing a down trend and future readings of an overbought market will signal the end of the rally.  


Posted by Adrian Filip at 11:24 AM
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