Last week I was expecting DAX to test lower levels and I was talking about a narrow chance of testing 6950. As I was expecting it did less in the upside.
DAX now is in over-sold zone but I still think that it may drop little more and I am expecting that in early days of the week. Therefore the pattern which I was talking about may be meaning less. Its next support level is around 6400.
But if DAX select to go side based for few days then it may go up in later days therefore its initial resistance will be around 6800 level. Then it will take time to cross 7200. Now in case of any big sell off we may see DAX below 6200.
NOTE: Please see the disclaimer of this blog.