Dax: A break below 13000 targets 12910

Jason Sen DayTradeIdeas.co.uk

Dax

Dax 30 December consolidates gains in very quiet conditions as we hold the July high at 13304 in a range of just 250 ticks all this week. We are very overbought but I see no sell signal.

Trade the range from support at 13030/13000 (we bottomed exactly here yesterday) up to 13270/280.

Daily Analysis

Dax same levels apply for today of course with minor resistance at 13100/1120 holding yesterday but above 13140 allows a retest of minor resistance at last week's high at 13270/290. Above 13310 look for 13280 & 13330/350 before a retest of the September high at 13440/460.

First support at 13030/13000 but below here targets 12910/900 with strong support at 12830/800. Longs need stops below 12770. A break lower targets 12670/650 with a buying opportunity at 12550/500 – stops below 12450.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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