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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Monday, December 5, 2011

DAX Technical Analysis 2011.12.05

The DAX rally in the past couple of weeks changed the Elliott Wave count ( but I still maintain the bearish outlook on medium term (a few months) as long as early may highs (7,580) remain intact.

The new count points to a cluster zone between the 6,820 and 7,010 levels that is due to happen somewhere around mid-January. I expect though, this whole move up started in mid-September to count as a corrective wave 2 (blue). The [c] wave will probably develop in 5 sub-waves as shown in the chart.  

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