07/12/2011

Germany DAX shows what can happen now

Above is the daily chart. See the blue curve, 8 MA that pushes today's bar, which just opened,maybe to new high. The target is the top of the chart where a gap is which must be closed.
Below is DAX monthly chart. One bar is one month. The small bar to the right is December so far. If DAX moves up to the top of the daily chart the Dec bar will move up to the falling 8 month MA which has crossed the horizontal curve, 21 month MA. It can get over the 8 MA if the market reacts strongly but not very much. I think a move like that would be the last high.


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