DAX
The downside prevails.
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Pivot (invalidation): 12360.00
Our preference
Short positions below 12360.00 with targets at 12220.00 & 12120.00 in extension.
Alternative scenario
Above 12360.00 look for further upside with 12420.00 & 12480.00 as targets.
Comment
As Long as 12360.00 is resistance, look for choppy price action with a bearish bias.
S&P 500
Consolidation.
Pivot (invalidation): 2930.00
Our preference
Long positions above 2930.00 with targets at 2973.00 & 2990.00 in extension.
Alternative scenario
Below 2930.00 look for further downside with 2910.00 & 2897.00 as targets.
Comment
The RSI calls for a new upleg.
This report has been prepared by Swissquote Bank Ltd 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 Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd 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.
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