Today's DAX Targets
Jason Sen | Jul 09, 2020 02:49AM ET
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.h3 Today’s Analysis/h3
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.
- Weekly outlook is positive
- Daily outlook is neutral
- Short Term outlook is neutral
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