Dax shot higher from 10640/630 to retest strong resistance at 10950/11,000
|Dax March contract
Dax shot higher from 10640/630 to retest strong resistance at 10950/11,000. Watch for the double top sell signal at this level in overbought conditions, but the biggest resistance of the week is the 7.5 year trend line at 11140/160. Try shorts with stops above 11240.
Failure to beat 10950/11000 re-targets 10910/890 then 10850/830. We bottomed exactly but below 10800 meets good support at 10700/690. Longs are now too risky in the bear trend. A break below 10670 targets 10640/630, perhaps as far as 10580.
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