Technical forecast for Dax

dax1

Dax Sep13 beat 8035/45 to reach 8076 but overstretched to 8091. A break above Fibonacci resistance at 8095 today is possible & should see us fill the gap up to 8131. If we continue higher we could reach as far as 8195/200 for a selling opportunity this week as we start to look overbought short term.

Failure to break 8095 could see a drift lower to 8035/25. Look for a low for the day here but if we continue lower we should find an excellent buying opportunity at 7990/80. Use stops on longs below 7965.

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