Looking at Tuesday’s chart we could have feeling that some big player wanted to cause weakness on indices during last sessions. On Tuesday US indices gained value significantly and when we add weakness of EURUSD there will be recipe for DAX success. German index came back above 10,000 pts with a score +2.18%.

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Now it is time for real test of bullish strength. In 2,070 pts area there is upper band of bearish channel on S&P500 and after break of it next strong resistance at 2,100 pts. Similar situation is near 10,150 pts on DAX, there is upper band of Inside Bar setup. Huge success for DAX is going back inside bullish channel.

2016-05-25_podsumowanie_sesji_WT_FDAX_H4

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Author of worldtrader.pl blog and big supporter of technical analysis. Active medium-term trader. In his analysis uses classical charts, price action as well as harmonic patterns and Elliott Waves. In trading he always tries to take into account two points of market's view, in accordance with the principle that each transaction may be attractive both for the demand and supply traders.