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Dax Daily Forecast - The Continued Fall

Published 06/08/2017, 06:33 AM
Updated 07/09/2023, 06:31 AM
DE40
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Dax Chart

Dax has good support at 12660/650 (thought I better lower this by 10 ticks!). A break below 12630 today signals further weakness to 12605/600 & last week's low at 12563 but we could fall as far as strong support at 12535/525 before a bounce. Longs need stops below the May low at 12491/487.

Holding support at 12660/650 re-targets 12700/705 then 12745 & perhaps as far as the 12790/799 level. If we continue higher obviously look for a test of the new all time high of 12879.50. On a break higher this week we look for 12940/950. We should struggle here initially but further gains in the bull trend target 13000/010 & 13055/060, perhaps as far as 13115/125.

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