Dax: Bulls must hold above 9600 to maintain control

Jason Sen DayTradeIdeas.co.uk

Dax

Dax 30 JUNE futures

Dax we wrote: making a very strong recovery & holding above 9500 targets 9600/30 before yesterday's high at 9680/9720. A break higher looks likely, targeting 9860/80 & 9980/10000.

All targets hit but we did not reach our selling opportunity at 10190/220 before the sell off.

Reports will be updated at about lunchtime GMT if necessary.

Daily Analysis

Dax bulls must hold above 9600 to maintain control. Above 9680/9720 re-targets 9860/80 & 10000/100. Try shorts at 10150/300 with stops above 10400. A break higher targets 10500/550, perhaps as far as 10700/750.

Below 10600 risks a slide to first support at 9450/9350. Below 9250 targets strong support at 9050/8950. Stop below 8800.

Trends

Weekly outlook is negative.

Daily outlook is negative.

Short Term outlook is neutral.

Author

Jason Sen

DayTradeIdeas.co.uk

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