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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Friday, December 9, 2011

DAX Technical Analysis 2011.12.09

DAX Index is following the scenario posted on the 5th of December (http://markettechnicalview.blogspot.com/2011/12/dax-technical-analysis-20111205.html) the price being rejected temporary in the support zone 5680 - 5.840.

The Fibbonacci retracement revealed a 50% correction in the past couple of days, confirming the completion of wave ii. If the whole scenario will turn out correct, that we should see a rally, referred to as the wave iii in the Elliott wave theory (as plotted on the h4 chart). 


Posted by Adrian Filip at 1:36 PM
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