Technical forecast for Dax

Dax headed higher as hoped all the way to our upper target & resistance at 8264/74 topping out exactly here. However we then sold off sharply & could test support at 8162 today. If we fall as far as 8120/10 this should offer a good buying opportunity with a low for the day expected.

Above 8193 is more positive with the daily chart quite bullish. Be ready to go with a move through 8210 looking for 8243/49, possibly a retest of resistance at 8264/74. We should struggle here again with the short term chart looking quite overbought. However be ready to go with a break higher for 8330/40. Use this area as a selling opportunity with stops above 8360.