Dax intraday: Consolidation in place

Swissquote Bank Research Team Swissquote Bank Ltd

DAX: Consolidation in place

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Pivot (invalidation): 13040.00

Our preference
Short positions below 13040.00 with targets at 12955.00 & 12900.00 in extension.

Alternative scenario
Above 13040.00 look for further upside with 13100.00 & 13160.00 as targets.

Comment
As Long as 13040.00 is resistance, look for choppy price action with a bearish bias.

SP 500: Bullish bias above 3363.00

Pivot (invalidation): 3363.00

Our preference
Long positions above 3363.00 with targets at 3400.00 & 3415.00 in extension.

Alternative scenario
Below 3363.00 look for further downside with 3327.00 & 3306.00 as targets.

Comment
The RSI is mixed to bullish.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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