DAX Futures Projected Targets

A quick look at our European leading counterpart shows that it has a horizontal hurdle to jump over. While the price has broken out of the wedge, it is butting up against 6200.
Market continues to be on the lookout for possible S&P EU sovereign rating downgrades, as well as continued EU banking system stress. I am not sure DAX futures can take out this 6200 resistance if downgrades come and further cash hoarding by European banks prevents a flow of liquidity in overnight lending market. Perhaps DAX pulls back to test the wedge apex @ 5850.

Should the news flow improve, DAX futures may be successful in overtaking 6200 resistance, and the next resistance would come @ 6450.

click on chart to enlarge