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DAX: Shorts Looking Risky

Published 11/22/2017, 03:28 AM
Updated 07/09/2023, 06:31 AM
DE40
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DAX Weekly Chart

DAX shoots through strong resistance at 13090/13110 targeting 13180/190 and 13235/245. We topped just 25 ticks from here yesterday but should eventually target resistance at 13260/270 this week. Shorts again would be very risky, but if you try use stops above 13310. I see no reason why we cannot eventually target 13325/335 and 13380/390.

First support at 13130/120 could hold the downside but longs need stops below 13080. Weaker support at 13005/015 but below risks a slide to our buying opportunity at 12900/890. An unexpected break below 12840 however targets important support at 12740/720 for a buying opportunity with stops below 12670.

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