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, December 15, 2011

DAX Technical Analysis 2011.11.15

DAX confirmed (for now) the falling wedge as a final move down of a correction and for further confirmation  it needs to break resistances at 5,766 and 5,860 levels.

The short term target is set at the early December highs, in the 6,170 area.  The Elliot wave count shows wave ii ended and wave iii beginning, in a 5 wave up move that points to the 6,800 – 7,000 area.

The charts below compares the last 2 analysis of DAX Index.

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