On Thursday, DAX began daily trading from bullish gap, which was closed fairly quick. The idea for a quick rebound did not come as expected and consequently session ended with red candle on DAX30. For other indices: DAX +0,82%, MDAX +1,95%, TECDAX +2,59%, SDAX +1,89%. On the main German index 25 companies have grown – the biggest gainer was Deutsche Boerse +3,37%.
America and EUR/USD ended almost flat, thus DAX bulls did not obtain enough ammunition for increases. On the technical chart it does not look good – the big decreasing gap was not close and contracts formed a trend continuation pattern – flag, which was broken. As long as the bottom will not be deepened I still recommend my yesterday analysis that we may be inside the completed wave 2 or B. If the bottom will be broken, then DAX may approach the downward line of the D1 channel (a little bit below 11500pts.).
