DAX Update 31/07/2014

Another day and DAX still in correction, inside the descendant channel. We have another HL at 9700 , nothing change, lets see where DAX will go to make a new LL. I do NOT ADVICE open short positions at this level. Wait for the upside.

Supports:
9480 (50% retrac)
9350 (61,8% retrac)

Short term - still in correction
Long term - bullish