Dax and technicals 3.5.2012

A few technical points.

Dax has been struggling above and below 6750 which has proven to be important support/resistance. Let's see if Dax will go down to 6621 or up near 7000. The indicators have previously trying to point a short term top. 

For a bigger downtrend we might want to see eur/usd breaking above 1.31.

...even riskier aud/jpy is already making lower lows. So, be careful.

Global indexes and currencies

The latest bullish development with Western indexes has been a little bit weird, because the bullishness hasn't been reflected into other markets and risky assets.

EUR-USD has been pointing down. 

AUD-JPY has been struggling with upside resistance.

Hang Seng has been struggling with 61,8% Fibonacci resistance for a month.

Currently Dax is going  lose it's moment and to have a negative divergence with RSI, although this can be solved by having a positive day on Monday. 

The upcoming seasonality supports higher highs according that the next 4 weeks has historically been very bullish and April been the second best month in a year.