Market Overview

Technical Forecast for Dax

Technical Forecast for Dax


Dax Sep13 has a potential short term head & shoulders forming with a neck line at 8240 so watch this level this week. This did in fact mark the low yesterday but we rocketed higher. We are facing resistance at 8373/79 today & this should remain a challenge but a break higher allows a move towards 8415/25. Be aware that a break above this level negates the head & shoulders pattern to target 8437/42 before August highs at 8464.


Below 8347 is more negative & we should see 8323/20, perhaps 8290/82 below. Any further losses risk a slide to August lows at 8237/31. A break below here then confirms the head & shoulders topping pattern for a measured target of 8062 in the days to follow. 

The preceding 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


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