Dax: Bounced Above Target Of 9150/40
Jason Sen | Feb 03, 2014 08:08AM ET
Dax broke 9365/60 to add pressure but managed to bounce just above the target of 9150/40. We bottomed at 9167 to meet
resistance at 9316/20. We should struggle here again today and could turn lower to support at 9255/50. Go with a break below
9220 then with a good chance of a retest of 9175/67 lows. If this does not hold the downside today, a test of the 100 day moving
average at 9085/80 could be seen.
Immediate resistance at 9316/20, but above 9340 is less negative and could see prices fill the gap at 9400/10 for a selling
opportunity with stops above 9450. Use 9485/90 as a selling opportunity if we then continue higher.
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