Dax Technical Forecast: May 15, 2018

Published 05/15/2018, 04:15 AM

June Dax

Dax had a small correction as predicted and after we broke first support at 12980/970 this is doing it's job as resistance on the bounce. Holding here re-targets minor support at 12940/930 (we bottomed exactly here) but a break lower is more likely today eventually, to 12860/850. Further losses not out of the question this week, meeting a good buying opportunity at 12745/735, with stops below 12690.

Above 12990 allows a recovery to 13015 & 13040 before the high at 13055. A break higher not out of the question despite overbought conditions targeting 13095/099 & 13125.

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