Last week I told that if DAX if unable to cross 6600 level then it will drop, it is good to see that DAX close just above the level of 6200 which I mentioned.
Technical indicators are showing that DAX is in over-sold zone but it has the option to go more in the downside. Therefore 6100 can act as a good support for DAX. In fact in past 6100 was a good support for it and if DAX breaks that then 6000 is next support level. In worse case scenario, 5800 will be an important support level for DAX.
DAX is still following lower highs and lower lows pattern. Here I have a feeling that it may try to make a base at around 6200 level and early days of the coming week may give a signal of that. If it makes a base here then we may expect a reversal of trend from coming Tuesday to Wednesday. But I am not fully confident about that reversal, especially about the levels. It is an aggressive call, so for general investors the best way is to wait for couple of days so that if DAX drops. Therefore they need to watch movements around 6100 level very closely.
NOTE: Please see the disclaimer of this blog.