Technical forecast for Dax

Dax Dec13 had an inside day yesterday which can be a short term negative signal. We broke Friday’s high & Fibonacci support at 9192 as feared but held just above the target of 9155/52. This could hold the downside again today but longs need stops below 9120 for a buying opportunity at 9085/75.

Immediate resistance at 9192/90 but above here we could see 9240 & perhaps a retest of 9257. Go with a break above 9265 & look for 9285/88, possibly 9297/9303.

Weekly outlook: All time highs at 9257. Only a close above here continues the bull run.