DAX, tests of trendline support

Frankfurt (derivatecheck.de) - Technical Analysts at Credit Suisse throw a glance at the technical situation in the DAX.

The Experts report that the medium-term momentum downmove (shaded indicator) remains in force. Further tests of trendline support is expected. The DAX attacking trendline resistance but short-term technical pattern looks still mixed and not stable. Hourly momentum cycle look still conflicting. The Strategists reckon with further consolidation above trendline support.

According to the Analysts resistance can be found at 7370/80, 7415/30 and at 7480 while support is waiting at 7310/25, 7260 and at 7200/20.
(20.08.2007/dc/a/i)