Last week, I was expecting that DAX may make small moves to test 6200 level in later part of this week.
It is still very frustrating that DAX is unable to cross 6200 level. When I compare DAX with others, I think many other stock indexes are showing the chances of making bullish patterns but DAX is lacking in this respect. It needs more time to show that type of pattern. But somehow if in later periods it develops the bullish pattern then it may test level above 6800.
If DAX fails to break 6200 in early to middle of the coming week then it has more chance to continue with the lower highs & lower lows trend which it is following during couple of months. But the options of any reversal or some kind of bullish pattern will be there if DAX maintain the same level of last week which is above 5900. But if it goes below that then 5800 will be an important support level for DAX and if it breaks that then it has the option to test lower levels may be around 5400.
So I will give emphasis on breaking 6200 level for showing any uptrend and 5900 level for any downtrend.
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