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DAX: Longs Need Stops Below 1220

Published 06/02/2017, 03:52 AM
Updated 07/09/2023, 06:31 AM
DE40
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DAX Weekly Chart

DAX held 12630/640 to re-target 12680/690 and top 6 ticks above. As well you know by now, further gains target 12705/710 (also 2 week high). A break higher targets 12790/799 before the all time high of 12843.

First support at 12640/630 but below 12616 re-targets 12565/555. On further losses look for strong support at 12515/505 (and just above the 3 week low of 12491). Longs need stops below 12470. A break lower is a sell signal targeting 12430/420 and perhaps as far as strong support at 12300/270 for a buying opportunity. Longs need stops below 12220.

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