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DAX Analysis

(6342) The DAX confirmed a still a strong closing last night above the top of the previous session despite the swift correction before closing, after having missed the s/t target by a few pips!!! Nevertheless we expect the DAX having confirmed a s/t bottom and will try therefore to buy it again in case of a 6300 undershooting!! The indicators of the daily chart are still negative while those of the s/t ones are mixed this morning supporting some consolidation/ correction. We expect good support in the 6300 area where we want to buy again putting however a stop at 6215!! We believe the DAX will try again to move on the upside but we have to add that the hourly chart is showing a clear negative reversal suggesting a s/t target at 6047!! We got stopped out this morning at 6336 on the rest.
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