DAX: Bulls have not lost control just yet [Video]

Jason Sen DayTradeIdeas.co.uk

DAX

Dax 30 JUNE futures

Dax reached minor resistance at 10500/550 & I should have been shorting here. I miss read it. We unexpectedly collapsed from 10500/550 & broke support at 10250/200.

Video analysis

Daily Analysis

Dax I do not think the bulls have lost control just yet & I think we can have 1 last push higher for a selling opportunity in to the end of the week. Holding 10200/150 allows a recovery to 10265/295 & 10350/390 before resistance at 10500/550. A break above 10600 meets a selling opportunity at 10850/900 with stops above the opening gap from 9th March at 11092. Just be aware that a break higher meets the next selling opportunity at 11450/550 with stops above 11700.

If we continue lower, the last line of defence for bulls is at 10,000. Longs need stops below 9940. A break lower targets 9790/9740.

Trends

Weekly outlook is negative

Daily outlook is neutral

Short Term outlook is positive

Author

Jason Sen

DayTradeIdeas.co.uk

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