DAX Intraday: The downside prevails

DAX

The downside prevails.

DAX


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Pivot (invalidation): 11700.00

Our preference
Short positions below 11700.00 with targets at 11390.00 & 11210.00 in extension.

Alternative scenario
Above 11700.00 look for further upside with 11900.00 & 12000.00 as targets.

Comment
The immediate trend remains down and the momentum is strong.

 

S&P 500

The downside prevails.

SP500

Pivot (invalidation): 2785.00

Our preference
Short positions below 2785.00 with targets at 2710.00 & 2665.00 in extension.

Alternative scenario
Above 2785.00 look for further upside with 2810.00 & 2831.25 as targets.

Comment
A break below 2710.00 would trigger a drop towards 2665.00.

This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.