Market Overview

Technical Forecast for Dax

Technical Forecast for Dax


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.

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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