Dax Sep13 did reach 8200/15 for a possible selling opportunity as we start to look overbought short term. We topped exactly here in fact but could retest this area today for a second chance. We are looking for a top to the 3 week correction now & if we do see this we have the makings of a bearish head & shoulders topping pattern in the longer term. However shorts need stops above 8240 as a break higher could target 8268 then 8286.
Below 8160 is more negative & should see a test of support at 8130/25. However if we continue lower look for the next support at 8081/76 & a low for the day expected here.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in