Dax: Holding first support at 10000 keeps bulls in control
|Dax 30 JUNE futures
Dax unexpectedly strong! We held first support at 9630/960 & climbed steadily to the 9950/10000 target before some profit taking to just above 9800/9790. We then shot higher to key resistance at range highs at 10050/120 & held before a late surge in to the close hit 10250.
Daily Analysis
Dax holding first support at 10050/10000 keeps bulls in control. We will need to hold above 10200 for a buy signal targeting 10350/400, 10500/550, perhaps as far as 10700/750. Expect minor resistance at 10850/900.
If bulls are to remain in control we will bounce from strong support at 10050/10000 if tested. Longs need stops below 9900. We do have very strong support again at 9750/9650. Below 9600 however is a sell signal.
Trends
Weekly outlook is negative.
Daily outlook is negative.
Short Term outlook is neutral.
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