DAX Index opened lower yesterday (almost -3.00%) after the
Greek and French elections over the weekend and made an intraday low at 6.410.
The early April analysis of DAX (http://en.goldring.ro/analysis_details.php?analyse_id=2396
) revealed the market risk for the mid-term and now, after a month, the main
support zone (6.270-6.480) was finally tested.
The main focus for this week is on Greece, where a
government coalition must be formed as soon as possible. A success in this
matter will turn the sentiment, at least for the very short term. The first
resistance is at the 6.650 level.
In case more bad news from Europe will come and US economic
releases will disappoint, the market is expected to fall below the current
support of 6.430.
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