Market Technical View: DAX target at 6,400. 2012.04.23

Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

Monday, April 23, 2012

DAX target at 6,400. 2012.04.23

DAX Index dropped today and it is practically retesting the previous local lows in the 6,550 area.

One of the previous analysis outlined the importance of the 6,270-6,480 area as a target and support for the price on the mid-term. The high volatility in the past few weeks shows the market corrective phase and the political aspects of France are looked as negative for the market.

Previous analysis : http://markettechnicalview.blogspot.com/2012/04/dax-technical-analysis-20120410.html