June 27, 2014
DAX recently corrected down from the round resistance level 10000.00 to the support zone surrounding the support level 9800.00 (former strong resistance level which reversed DAX sharply down in January and March, as you can see below).
This support zone was strengthened by the support trendline of the daily up channel from March and 50% Fibonacci Correction of the preceding upward impulse from May. DAX is set to reverse up from this support zone toward the next buy target at 10000.00. Buy stop-loss can be placed below 9800.00.
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