Dax topped exactly at strong resistance at 10950/11,000

Dax March contract

Dax topped exactly at strong resistance at 10950/11,000. It is increasingly unlikely, but if we break high we meet the biggest resistance of the week at the 7.5 year trend line at 11140/160. Try shorts with stops above 11240.

Failure to beat 10950/11000 re-targets 10910/890 then 10850/830. We bottomed exactly here on Friday but below 10800 meets good support at 10700/690. Longs are now too risky in the bear trend. A break below 10670 targets 10640/630, perhaps as far as 10580.


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