Dax 30 Beat Upper Trend Line. What's Next?

Published 04/28/2020, 04:10 AM
Updated 07/09/2023, 06:31 AM
DE40
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DAX beat the upper trend line at 10520/540 for a short term buy signal (and the market was kind enough to retest 10540/520 for a buying opportunity) targeting 10600/605 then 10670/680.

DAX through 10520/540 targeting 10600/605 then 10670/680 and we are halfway to retest the recovery high at 10790/810 overnight. Further gains meet very strong resistance at 10900/11000.

I think the downside is likely to be limited at this stage with minor support at 10620/600 and at 10550/530. Try longs at 10480/460 with stops below 10410. An unexpected break lower initially targets 10360/340.

Trends

  • Weekly outlook is negative
  • Daily outlook is neutral
  • Short Term outlook is neutral

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