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DAX: First Resistance At 12120/130 Should Be Strongest Of The Day

Published 09/05/2017, 06:36 AM
Updated 07/09/2023, 06:31 AM
DE40
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DAX Daily Chart

DAX first resistance at 12120/130 should be the strongest of the day. We have a gap to fill at at 12144 so shorts need stops above 12150. A break higher targets 12195/200 then a selling opportunity at 12275/285. Try shorts with stops above the August high at 12330. An unexpected break higher targets 12400/410.

Failure to beat first resistance at 12120/130 re-targets minor support at 12070/060 and 12030/020. On further losses look for 11985/975, before the 11868/863 low. 11880 was more of a target than support (even though it held so well) so a break lower is more likely eventually, for 11790/780.

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