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Dax First Support At 9710

Published 07/04/2016, 02:51 AM
Updated 07/09/2023, 06:31 AM
DE40
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Dax Chart

Dax sold off to 9730 in to the close. First support at 9710/00 but below here meets good support at 9655/50, which could hold the downside. Longs need stops below 9625. A break lower however targets 9605/00 then good support at 9570/65. Try longs with stops below 9540. Further losses test 3-day lows' support at 9501/9493.

Holding first support at 9710/00 targets 9735/40 then 2-day highs at 9785/95. Be ready to buy a break above here to fill the gap at 9835/40. This is very strong resistance, but bare in mind we also have strong resistance at 9880/85, so this wide band is a major challenge for bulls today. A high for the day is very likely, but shorts need stops above 9920.

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