Next week can be quite interesting. DAX managed to stop price fall and is ready to push thru 1st key resistance 12140.
Just lets not forget as current bounce is profit taking on short positions in strong down trend which last months all ready.
September Futures contracts expiring 22th so with little of time left, short covering can become more dynamic and send price higher.
Buyers will be working on breach 12140, that will open path towards next key points 12200 / 300.
There is chance for rally get supported by significant good news and break current pattern, set new higher high aiming for top trend line in bearish channel
targets 12220 / 330 then on success to hold thru sell pressure 12530/600
Sellers can help rally reach 12300 tag by taking profits and will be back and ready for action between 12300/400 and cap that rally to confirm another lower high.
targets: from under 12300 on success to cap rally – 11730/ 500
Nearest technical resistance / support levels. Strong resistance above 12220
Resistance and turning points: