Friday, September 18, 2015

DAX - 18/09/2015

Yesterday's forecast is still intact. The market made a little trick during the FED decision, but no critical level was damaged by that. The context is still pretty much the same. The lower part of the range is almost reached. I expect at least and ending diagonal pattern at wave [c] position of a complex flat. The RSI on the 4 hour chart is about to hit the sustainable bearish zone, which could confirm the bearish bias. I still cannot rule out a retest of yesterday's high, but it has a really slight chance. So in my reading this market is bearish in short term, especially below the 10500 level resistance (need to pay attention at support levels of the bigger range though).

DAX (CFD) - m15 - h1 -h4 charts

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