DAX Daily Forecast - 18 September 2018
Jason Sen | Sep 18, 2018 12:43AM ET
Dax bottomed exactly at minor support at 12050/040 pretty much as expected but below 12000 today risks a retest of 19 month trend line support at 11960/950. Try longs with stops below 11890. A break lower is a sell signal initially targeting the September low at 11860 & obviously a break below here is another sell signal.
Holding minor support at 12050/040 allows a recovery to 12090/100 before the recovery high of 12130, just below strong resistance at 12165/175. I doubt this will be broken on the first test today but we may get through here later in the week to target minor resistance at 12250, perhaps as far as 12280/290.
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