Market Overview

Technical Forecast for Dax

Technical Forecast for Dax


Dax Sep13 retested August highs at 8464 & as long as this holds we have a bearish double top in place. With the market overbought in the short term & a diverging stochastic on the daily chart this is always a risk. Immediate support is 8409 /01 so any longs need stops below here for a test of 8382/74. A bounce from here looks likely today but again longs need stops below the gap at 8364. We should quickly see 8349 but there is scope for a test of good support at 8323.


A break higher cannot be ruled out in this bull run of course, and could target 8487 before 8530. Above here we meet this year’s high at 8561.

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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