Dax consolidates after a strong open

January 29, 2014 by Nanakiver3

Overnight news has seen the DAX break higher on the open. Full FT article
For those looking for rallies to get short this looks like that move.
For those waiting for good news for the longer term rally to continue then last night was it.

In the bigger picture, on the upside we have what looks like a messy head and shoulders.
On the upside we have a pivot point and the 61.8% fib level for the move down from 9795 to 9286 coming in at the 9600 level.
On the downside we have this weeks low at 9286.
We then have the 100 daily exponential moving average at 9104 which has held well on the move up so far.
We then have the 8991 December 2013 lows.