DAX 30 Futures forecast for the week of January 21, 2013, Technical Analysis

AppId is over the quota
AppId is over the quota
FXWirePrpHeadlines FXEmpire   |  January 19 2013 12:40 EST

By FXEmpire.com

The DAX had a negative week over the last five sessions, but remains consolidating above the 7600 level. We recently broken out from the 7500 level and we believe that this last two weeks have simply been the market taking a rest before its next move higher. Looking at the charts, there’s nothing to think that this market is going to suddenly reverse, and the recent action has certainly been very bullish, going all the way back to this past summer. On a break above the 7800 level, we think that this is a screening buy and would become aggressively long. We also would be buying a pullback that shows some type of support between 7500 and 7600.

Click here to read DAX Technical Analysis.

Originally posted here

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