Technical forecast for Dax

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.