Technical forecast for Dax

dax2

Dax fell all the way to our lower target of 8320 & held here. However the outlook remains negative & a break lower is possible today. This should target good Fibonacci support at 8292. We should look for a bounce from here but we certainly cannot rule out a break lower so we need tight stops below last week’s low of 8260. Next target 8235 & possibly 8217/10.

Resistance at 8395 then 8412/25. We should struggle here but a break higher targets yesterday’s high at 8451.

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