The goal of this website is to provide an independent perspective on Financial Markets. We facilitate our users investment strategies based on Technical Analysis, a tool used to forecast the particular financial instrument performance, based on its past price history and its trading volume. We identify techniques and methods which will allow them to obtain a higher profitability. In addition, we are closely connected to lifelong learning objectives. Consequently, our job is aimed to achieve both educational and investment decision-making purposes.

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Thursday, 18 March 2010

DAX: It achieves the goal of its inverse head-and-shoulders pattern

In the video tutorial we published at the beginning of March,http://timelymarkets.blogspot.com/search/label/Video%20Tutorial we explained that the main German Index could develop an inverse head-and-shoulders pattern which should lead the Dax to the highest level that was reached on January the eleventh: 6.100 points. The rise measurement was done according to the basic principles of Technical Analysis: once the neckline is broken up, the upwards movement should coincide with the head height. The rising tendency which was born in March doesn´t seem to have finished. However, the presence of a resistance in that level of 6.100 points should be considered as a call for prudence.

The recommendation is to sell partially around the area of 6.050 - 6.100 points and to close totally long positions if it achieves the next goal, between the zone of 6.250 and 6.300 points.
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