Dax: Hit Our Target Of 9397/9402
Jason Sen | Mar 24, 2014 08:18AM ET
The DAX hit our target of 9397/9402 with a high for the day exactly as predicted. The sharp sell off took us to the first short term Fibonacci support at 9290. A break below 9275 today keeps the market under pressure and targets 9248/45, possibly as far as 9225/20. A good chance of a low for the day here, but any longs need stops below 9200. Go with a break lower then for the next target and support at 9175/65.
Only above 9325 is more positive this morning but we meet resistance at 9344/48. A high for the day possible here, but if we continue higher look for 9375 then a retest of last week's high of 9397/9402 with a high for the day likely again.
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