Technical forecast for Dax

dax1

Dax caught us out with a sharp rally to 8530 but then sold off sharply as we look to test support at 8427 but we could continue lower for 8395. This is quite good support & could hold the downside today but longs could use stops below 8380 for 8364 next target but below here there is scope for 8320.

Resistance at 8466 but above 8476 we could try for 8494 & possibly a retest of yesterday’s high at 8530. Unlikely we break higher but this would allow a retest of all time highs at 8561.

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