Last week I was expressing concern about Dax. Since it does not able to cross 7400 level so chance of making the short-term bearish pattern is more now. If that pattern reacts completely then Dax has a chance to test around 7000 level. On the other hand if we go with recent reversals then it can drop up to around 6600 level (around 61.8% reversal) though this may not be necessary a prediction for coming week.
Last day of this week was better so if it able to maintain 7340 level or I would say levels around 7400 in early days then there is a chance that Dax may again try the upside in later days. I think it is better to wait for concrete moves. If Dax is able to cross 7400 in coming week then 7500 will be its initial target in the upside and the better one is at 7600 for any bigger move.
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