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.
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