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Dax forecast for coming week.

DAX is trying hard to break 7000 level but in spite of being in technically better position, it failed to perform like DOW. I am talking about breaking specific level (psychological!). As we know that both US and Euro zone are in bad condition, but DAX is not getting better picture like US economic reports. DAX can still test 7000 level but for that it needs some good news.
On the other hand we all know that it is in overbought condition, so if any bad news comes then it may test 6650. But if it completely reverses its position, then it will get initial support around 6450 and then at 6100.



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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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