Tuesday, 22 December 2009

DAX Analysis


In terms of clean EWT counts, DAX has been playing well

As per the chart we seem to be 'nearly there'. If A = C we get a projected figure of 6134. Also notice the 200SMA on the weekly chart sits at 6168. A clean break of the bottom trendline on the weekly chart taking the lows of March, June, July and November would confirm a new trend is in. This currently sits arounf the 5700-5800 mark

A short in the 6100s to hold long term might just be a very good short.

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