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Dax forecast for coming week.

So finally DAX crossed 7000 level again, now 7300 is the initial target for it. Last few day’s moves show some kind of break-out for DAX, so it can go more in the upside as technical indicators support that move. I don’t know whether it is going to test 7500 level in coming days or not, but we should remember that last time it crashed around 2000 points from this level. It has initial support level at around 6950 and better one is at 6600.

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DAX forecast for coming week ended 15th March, 2013.

This week was very good for Dax, though it is getting resistance at 8100 range. Now it has a chance to test downside again. I think even if Dax tests lower levels, it has more chance to bounce back from around 7800 range and therefore it will again test upside.

On the other hand if it shows flat movements around 8000 range in initial days of the coming week then there is a chance that it may take a decisive call in later days. Considering the recent trends it has the chance to test higher levels may be around 8200 but that will be a very aggressive call after taking in to account the movement from last December. I will worry about the downside when Dax will be testing levels below 7600 ranges.
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