DAX M August 2014

It has been a while and the motivation is right so time to update DAX as Europe appears to be getting exciting with capital flows from Southern Europe having driven the DAX to all time highs the question now becomes what happens as the war mongering US vies for the European gas supplies as they do not have the infrastructure to utilize their production and lets be honest about it - the US has become the playground bully with its total disrespect of international law which has reached the point where alternatives are being used to minimize risks of the US unilaterally fining international banks when ever it decides, let alone Obama's knowingly targeting innocent people with his drone strikes, the NSA's electronic surveillance programs of every individual on the planet - because yes we are all now terrorists if we do not tow the US governments line - bull - it is about tracking every last penny that anyone owns that clearly the government is more deserving of than the productive individual!  These sanctions against Russia are purely about gas, which is also why there is no intervention in Syria, because that would open up Middle Eastern supplies to Europe, but of course Libya was purely humanitarian like Iraq!

Combine this with the un-elected EU commission who has power above any elected officials highlighting the bullshit of democracies in the West and the idiotic handling of the Euro which as we all know the problem is not the result of the stupid design by the politicians

Quiet seriously the Euro is in trouble, there are few jobs for the youth with money being chased by governments who hunt you down like a criminal if you do not pay what they feel you owe them, and let us not forget that the democrat led us into about 50% more wars than the republicans it looks very likely Europe will be at war within the next few years!

This format is a bit unusual because I am currently concentrating on Silver to get a simple update format!

If we look there are 2 possible Q channels intersecting one another in mid 2018 around 14000.

M EU DAX M 20140803 Q channels

Within the channel below you can see that prices have challenged the lower (dashed) ML and volatility will increase until they clear the upper (solid) ML and move to the upper parallels.

M EU DAX Q channel ML

If we now look at the monthly channel we can see prices are in the upper half of the lower Q channel previously shown, and have struggled to break into the upper half of the monthly channels bouncing between the monthly ML's. Last month they closed  and now opened below the solid ML and so the top dashed ML is now resistance and pivot M3 should be made as a top touching it as shown below with the intersection of the QML targeted for September 2015 at 11100 if a full wave correction to 8745 for W4 is made.

MEUDAXM140803monthlytrendchannel

However prices are expected to hold the weekly channel MLL making W4 around 8980, and that would target April15 for M3 around 10820 as shown below.

DAW Weekly Channel

Finally the detailed numbers mentioned and Monthly support and resistance

DAXsupportResistance

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