DAX 30 Forecast For Feb 11, 2020

Published 02/11/2020, 06:42 AM
Updated 07/09/2023, 06:31 AM
DE40
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DAX we wrote: holding first resistance at 13520/510 (we bottomed exactly here on the bounce from 13467) risks a slide to the first support at 13445/425. The downside is expected to be limited

Longs at 13445/425 worked perfectly. We bottomed exactly here for a recovery to first resistance at 13510/520 then 13563 over night.

DAX back up through first resistance at 13510/520 opens the door to 13590/610. A break higher tests the more important January high at 13635/640. A break higher targets 13660/670 and 13695/705. On further gains look for 13765/785.

First support at 13520/510 of course then better support at support at 13445/425. Longs need stops below 13400. A break lower targets 13370/350 then a buying opportunity at 13330/320 with stops below 13290.

Trends

Weekly outlook is positive

Daily outlook is neutral

Short Term outlook is positive

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