Dax beat 9630/9635 but halted at the next target of 9655/65 & topped exactly here. Prices then unexpectedly collapsed sharply breaking all support to
Dax June contract Daily Forecast - 25 April 2014Dax beat 9630/9635 but halted at the next target of 9655/65 & topped exactly here. Prices then unexpectedly collapsed sharply breaking all support to hit 9423. Yesterday’s negative price action could have signaled the end of the recent rally. Below 9535/30 is negative for today & targets 9470 then a retest of the 100 day moving average at 9435/25. A break lower today should then lead us towards support at 9385/80 but if this does not hold the downside look for a short term buying opportunity at 9320/15, with stops below 9290.
Immediate resistance at 9550/60 then 9620/30 to exit longs & try shorts from here up to the 9655/65 area. A break higher is not expected but if seen should target February/April highs at 9730/40.
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