Dax: A Retest Of Highs
Jason Sen | Nov 18, 2013 04:38AM ET
Dax December '13 broke higher as expected to retest all time highs at 9197 for a selling opportunity with stops above 9215. The big question - is this a bearish double top? A break above 9215 kills the pattern and sets us on the next leg higher towards 9535/40 then 9265.
Failure to beat 9200 leaves a bearish double top pattern to target immediate support at 9145/40 and possibly 9115/10. This should hold the downside but below here sees 9090/85 then good support at 9065/60 for a buying opportunity.
Weekly outlook: All time highs at 9197. Only a close above here continues the bull run.
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