Market Overview

Technical Forecast for Dax

Technical Forecast for Dax


Dax held above immediate support at 7816 & rocketed higher yet again to reach very strong resistance at 7930/40 which we suggested should be an excellent selling opportunity. We topped at 7933 in fact after an incredible 6.5% gain in just 5 days. We now look for profit taking to set in and a move back to 7875/65. Below here we could test good support at 7825/15. We look for a low for the day here to exit remaining shorts & perhaps try small longs with stops below 7790
for 7749/39.
7930/40 remains strong resistance & we could expect to top out here again today but we need stops on shorts above 7970 for 7988 then 8025, possibly even 8044/47. Above here we hit this year’s high at 8077.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas


Related Articles

View Comments and Join the Discussion!