Skip to main content

DAX forecast for coming week ended 10th August, 2012.

Dax still does not able to cross 6800 level convincingly but it is good to see that it got the support of 6600. During last few weeks I was talking about the bearish pattern which can take DAX around 6100 but after this week’s moves, the chance of triggering that is less because on the basis of sound technical method it is out of that bearish pattern. Now in spite of that if something like that happens then it will be consider as an exception, here I must say that this opinion will be subject to up gradation if DAX moves around 6900 to 6400 for some more time. In that case the chance of going 6100 level will be still there but I will think differently.

Until DAX drops below 6600 level there is a good chance that it may test 6900 level. As I said in my earlier reviews that if DAX is able to stay above 6900 level then we may see good days for it but that may not necessary be a story for coming week.

In spite of better last day, still I am not too much confident about levels above 6900. DAX is making higher highs and higher lows, considering that if DAX breaks 6600 then I don’t think that it is going to drop below 6400 level, in fact we may consider around 6562 (50% retracement) as important support level for it.

NOTEPlease see the disclaimer of this blog.

Due to some problem I am giving this week’s postings much earlier and in tomorrow, if I able to give stock market review then I will post there if I have to do any change on this.


Popular posts from this blog

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.
NOTE: Please see the disclaimer of this blog.

Fed’s rate hike Vs Sovereign rating up gradation

Financial market is very much worried about the rate hike in US, probably this is going to come in coming December. But I think that is not going to change much of the things. Even Fed hikes rate in December it will be not so much, because we are forgetting one thing that interest rate in US is around zero so even they hike rate by 0.25-50% basis points (at most) in this year that will not be enough cause for Dollars to change their locations around the world especially markets have already discounted this coming rate hike in US.

A new disaster is coming in EU banking sector, whom to blame, big Audit firms!

First I was thinking what should be the title of this posting? Will it be good if I write that big audit firms set the time for EU bank collapse! If someone is thinking that financial crisis is over then think twice because the coming EU banking crisis is no way less than 2008 financial crisis. The time bomb will explode at some point of time in future, the time has not yet set for it. In that tsunami, forget about the smaller if any major banks collapse then I will not be surprise.