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DAX forecast for coming week ended 28th September, 2012.

For DAX I am maintaining my last week’s stand because except in the later days it was mostly flat. The way it is showing small moves that may create reservation among investors, especially in these higher levels and past experiences also supporting that. What I feel that it has the chance of going upward but it is becoming difficult to forecast definitely about its move in advance because suddenly the game can change within one or two days.

7500 is its initial target in the upside and the better one is at 7600 for any bigger move. In the downside 7200 is the initial support level and the stronger one is at 7000 level. If Dax drops from 7000 level then 6800 will be a good support for it. On the other hand if we go with recent reversals then it can drop up to around 6600 level (around 61.8% reversal).


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