Monday, July 20, 2015

DAX - Achtung Baby !!

Following up on my earlier post on DAX;

As can be seen from the latest chart position,
1) The DAX has retraced its last downswing in a quicker time.
2) It has also broken out of the downward sloping channel marking atleast the end of the corrective phase.
3) Gap up support zone extends from about 11330 to 11430 approximately. Any minor retracement/volatility should find support coming in at the above mentioned levels.
4) Traders should be long with above levels as stop loss with potential targets of 12,100 in coming days.

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