Jul 8, 2013

Short term update

UPDATE: Just to to clarify the direction is still up and even if the bearish scenario play out I still think that there is one more push higher.

I am sorry but all I see is weak rally for the last two weeks well covered but weakness. On Friday gap and sell off followed by rally with very low volume today gap and weakness again. This "rally" does not behave like a strong bounce from an intermediate term bottom and break out above EMA50........ The DAX has probably completed a triangle with the rally today... If you are bull be very careful. The price should stay above support 1620-1625.

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