Thursday, March 8, 2012

Dax indicators 7.3.2012

Dax failed twice to get through 76,8% Fibonacci level. Yesterday's rebound was highly expected, but if this was double top reversal, then it would give 6487 as our next downside target.

Dax Volume Index made lower close two days ago. Additionally, this was 20 day low which indicates...

...over 90% probability that we would see another lower close in Dax during next 3 days.

McClellan SMI is indicating a downtrend.

20 day highs vs. lows is indicating a downtrend.