Dax: Immediate Support Is 9435/25
Jason Sen | Jan 29, 2014 08:08AM ET
Dax was predicted to have ended the steep 4 day correction at 15 week trend line, Fibonacci, and 55 day moving average support at 9320/9300. Exactly as predicted we shot higher through 9400/10 as we close in on our 9485/95 target. We should struggle here today but be ready to go with a break higher for the next target of 9545/50. A high for the day is possible here but do not rule out a move towards strong resistance at 9605/10 to exit longs & perhaps try shorts with stops above 9640.
Immediate support is 9435/25, and could hold the downside but longs need stops below 9400 for good support at 9350/40.
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