⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

Today's DAX Targets

Published 07/09/2020, 02:49 AM
Updated 07/09/2023, 06:31 AM
DE30
-

DAX 30 September futures NOT starting a new bull phase as suggested, as we reverse recent gains. Initially, we bottomed exactly at the 12490/470 target for a bounce to the first resistance at 12610/640. Shorts here worked on the slide back to 12490/470 for a potential 130 ticks profit.

Today’s Analysis

DAX holding first resistance at 12610/640 to re-target 12530/520 and first support at 12490/470. Longs need stops below 12440 look for a buying opportunity at 12370/350, with stops below 12300. A break lower is a sell signal seeing 12350/370 act as resistance to target 12230/210 for profit taking on shorts.

First resistance at 12610/640 but shorts need stops above 12660. A break higher re-targets 12700/710 and 12770/780 before a retest of 12830/835. Further gains retest key resistance at the June high at 12925/935.

DAX Chart

Trends

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

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.