Bulls cannot say that yesterday’s session was successful. They had power only for first 30 minutes when 10,950 pts level was tested. Further part of session DAX was slowly going down and in the end of session it broke support at 10,800 pts. EURUSD was increasing and Wall Street session started with decreases, what made bulls even more weak.

All German indices ended day with losses: DAX -1.15%, MDAX -1.44%, TECDAX -1.18%, SDAX -1.03%. Only 4 out of 30 companies didn’t lost value with Siemens at top +1.92%. 26 companies lost, the most RWE after weak report (-9.59%), E.ON (-3.24%), Adidas (-3.48%).

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DAX for another time was next to support at 10,730 pts. Breaking this level will be a sign of move in 10,600-10,500 direction where we should find stronger support.

2015-11-13_analiza_CZ_FDAX_H1-1024x624

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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.