Dax holding just above 12710/700

Daily Forecast - 03 January 2018

Dax March Contract

Dax holding just above 12710/700 for a bounce to 12918. THERE IS A VERY GOOD CHANCE THE CORRECTION IS OVER & THE LONGER TERM BULL TREND RESUMES NOW. Holding above first support at 12880/870 is a good start today. Above 12920 is more positive targeting minor resistance at 12960/970. On further gains look for 13030/040.

Below 12860 risks a slide to 12830/820, perhaps as far as 12790/780. The 12730/700 is very important support. A break below here tests the 200 day moving average at 12630/620.



Eurostoxx March Contract

EuroStoxx bounce from 3456/52 signals the correction is over. Bulls should start to win control. First resistance at 3488/92 should be a challenge & we may trade sideways for a day or 2 to build a base. Above here however targets strong resistance at 3510/14. Watch for a high for the day. A break higher targets 3530/34.

Any dip towards 3560/50 is a buying opportunity with a low for the day expected again today. Use wide stop below 3435. A break lower however risks a slide to 3390/85.


The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.