Technical forecast for Dax

dax

Dax support at 8332 then 8292 & last week’s low at 8261. A low for the day is possible again here today but a break lower cannot be ruled out and could target 8235/25. Any longs here need stops below 8200 for 8164 then excellent support & a buying opportunity at 8125 so exit shorts & try longs here.

If we can hold on to 8375 look for resistance at 8402/10. A break higher could allow a small gap to be filled at 8437 with stronger resistance at 8446. Exit longs & try shorts within this band but we need stops above 8475.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More