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DAX 30 Daily Forecast - April 7, 2020

ByJason Sen
Published 04/07/2020, 03:55 AM
DE40
0.27%

DAX unexpectedly strong! We held first support at 9630/960 & climbed steadily to the 9950/10000 target before some profit-taking to just above 9800/9790. We then shot higher to key resistance at range highs at 10050/120 & held before a late surge in to the close hit 10250.

DAX holding first support at 10050/10000 keeps bulls in control. We will need to hold above 10200 for a buy signal targeting 10350/400, 10500/550, perhaps as far as 10700/750. Expect minor resistance at 10850/900.

If bulls are to remain in control we will bounce from strong support at 10050/10000 if tested. Longs need stops below 9900. We do have very strong support again at 9750/9650. Below 9600 however is a sell signal

Trends

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