Monday, January 2, 2012

Dax short term 2.1.2012

In simple graphical terms, seems like Dax is in very interesting situation. 61,8% Fibonacci and the upper descending trend line have been reached at the same time. Obviously we have to get some good news to help Dax break up. Otherwise, when we will fall from this point, the bearish signs I earlier mentioned are becoming stronger. I try to be very objective, but there are already some bearish signs and the upcoming weeks haven't been historically bull-friendly, so extra cautiousness at the moment is very much needed.