DAX: Key To Direction Should Be First Support At 12630/640
Jason Sen | May 25, 2017 03:11AM ET
Dax key to direction should be first support at 12630/640. Holding here re-targets 12680/690 before 12705/710 and 4 month trend line resistance at 12780/790. Obviously we have further resistance at the all time high of 12840 so this 12780-12840 band should be a major challenge.
First support at 12640/630 below here re-targets 12565/555 before strong support again at 12515/505. This held perfectly last week; again longs need stops below 12470. A break lower is a sell signal targeting 12430/420 and perhaps as far as strong support at 12300/270 for a buying opportunity. A low for the week likely, but longs need stops below 12220.
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