Technical Forecast for Dax

by Jason Sen, Benzinga Contributor

November 19, 2013 10:47 AM | 1 min read | Make a Comment

Dax Dec13 broke all time highs at 9197 & reached 9235/40 but fell just 8 points short of the next target of 9265. We dipped to Friday's high & Fibonacci support at 9192. Watch this level today as a break lower cannot be ruled out & could target 9155/52. This should hold the downside but longs need stops below 9120 for a buying opportunity at 9085/75.

If we hold 9192/90 we could see 9240 & perhaps a retest of 9257. Go with a break above 9265 & look for 9285/88, possibly 9297/9303.

Weekly outlook: All time highs at 9197. Only a close above here continues the bull run.

Market News and Data brought to you by Benzinga APIs

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!

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Technical Forecast for Dax