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Technical forecast for Dax

By () · August 16, 2013 · Comments Off on Technical forecast for Dax
Futures · analysis, binary option, buy sell, candlestick, charts, day trade, day trading, down trend, fibonacci, forecast

Dax Sep13 has a small bearish double top in place which helped push us lower than expected & broke good support at 8323. Below 8338/28 today sees a retest of yesterday’s low at 8308 with support at down to 8300. However a break lower today is likely & should target 8265/60. A bounce from here is very possible but any longs need stops below 8240 for 8217/13. If we continue lower look for good support at 8160/55 for a buying opportunity.

Resistance at 8385/90 should hold the topside but a break higher could target yesterday’s high at 8424. Above here a gap to fill at 8454 for a selling opportunity.

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