Saturday, 20 August 2011
Dax future
Friday's candle was not a reversal so even though we may be in a 5th,looks like the decline not done yet.Watch for a reversal candle followed by a cross of the 5 dema and 10 dsma (this was a good short entry back in July,as posted at the time) The weekly looks really ugly.We are 15 weeks from the high and 6 weeks from the lower top,so another 6-7 weeks decline is entirely possible (fib 21 and Gann 90 cd would cluster there) An October low would have good seasonality.Germany is in the eye of the storm so I think it is a key market to watch
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