Dax, possible reversal at 5150

Analysing longer term charts usually gives better results...This is the Dax Weekly chart..  Since the market crash the last 10 days, the Dax has been pretty much glued to the lows, unable to get any upside momentum, like the US markets..

----------------------------------------------Updating this post made on Aug 22, almost 2 weeks ago.. The German Dax reversed exactly at 5150!!

--------Sep 12, and the Dax is looking weak again, grinding back down to the level mentioned above..5150 doesnt look like its going to hold. As of the time writing this, its 5164 on the Dax, and chances are its heading lower. For neutrals, shorting is an option. For longs with position, a stop is essential here to protect capital. The next target is at 4620, and im fairly confident should we get there in the next 2 weeks, it will mark a very significant turning point in the markets, (along with a top for gold, which is moving inversely with the markets these days, at around 1960, mentioned a while back here on the blog).