DAX Intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

DAX

The downside prevails.

Pivot (invalidation): 12400.00

Our preference
Short positions below 12400.00 with targets at 12270.00 & 12200.00 in extension.

Alternative scenario
Above 12400.00 look for further upside with 12450.00 & 12490.00 as targets.

Comment
The RSI is bearish and calls for further downside.

S&P 500

Intraday support around 2984.50.

Pivot (invalidation): 2984.50

Our preference
Long positions above 2984.50 with targets at 3003.00 & 3018.00 in extension.

Alternative scenario
Below 2984.50 look for further downside with 2973.00 & 2963.00 as targets.

Comment
The RSI is mixed with a bullish bias.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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