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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Tuesday, May 8, 2012

DAX Technical Analysis. 2012.05.08

DAX Index opened lower yesterday (almost -3.00%) after the Greek and French elections over the weekend and made an intraday low at 6.410.

The early April analysis of DAX ( ) revealed the market risk for the mid-term and now, after a month, the main support zone (6.270-6.480) was finally tested.

The main focus for this week is on Greece, where a government coalition must be formed as soon as possible. A success in this matter will turn the sentiment, at least for the very short term. The first resistance is at the 6.650 level.

In case more bad news from Europe will come and US economic releases will disappoint, the market is expected to fall below the current support of 6.430.

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