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.
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