DAX: Strong Resistance at 11,950/960
Jason Sen | Apr 21, 2015 06:26AM ET
DAX June key to direction is strong resistance at 11,950/960 and could be worth trying shorts with a stop above 11,990. A break higher however is a buy signal and targets 12,035/045 then resistance at 12,125/135. A good chance of a high for the day but shorts need stops above 12,160.
Below 11,890 risks a slide to good support at 11,850/840. Try longs with stops 11,810. A break lower is more negative and targets 11,775. If we continue lower look for a retest of yesterday's low at 11,718 and a gap to fill at 17,710. Trend line support at late March lows at 11,650 is the last line of defence this week. A break lower would be an added negative signal & could see us quickly target 11,610/605 and perhaps as far as support at 11,520/510.
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