DAX-30

4 May 2016

I think the wave of the decline that has recently started will be the last one before a sizable correction for DAX

4 May 2016

Not

Support – 9770, 9581, 9500

Resistance – 9905, 9960, 10,050

Dax’s failure to sustain above falling trend line if followed by a daily close today below rising channel support would indicate bullish invalidation and open doors for a further drop to 9500 levels in next few days.
In case, the daily close is above rising channel support, a case of rebound tomorrow or later this week remains intact.
However, bullish momentum is seen gathering pace only above falling trend line resistance.