DAX Forecast October 14, 2014, Technical Analysis
The DAX as you can see initially gapped lower at the open on Monday, finding the €8700 level as support. More importantly though, we found the €8900 level as resistance, and that of course is a very negative sign as it was previous support. With that, we are willing to sell resistive candles in this general vicinity, and as a result we are somewhat negative at this point in time. On the other hand though, if we did managed to break back above the €9000 level, we would be buyers of the DAX at that point.
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