DAX Intraday: Further advance

Swissquote Bank Research Team Swissquote Bank Ltd

DAX

Further advance.

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Pivot (invalidation): 13175.00

Our preference
Long positions above 13175.00 with targets at 13370.00 & 13420.00 in extension.

Alternative scenario
Below 13175.00 look for further downside with 13105.00 & 13050.00 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

SP 500

Rebound.

Pivot (invalidation): 3150.00

Our preference
Long positions above 3150.00 with targets at 3183.00 & 3196.00 in extension.

Alternative scenario
Below 3150.00 look for further downside with 3132.00 & 3118.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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