Dax is stuck in a range from all time highs at 9790/9800 down to 9690/80 while we unwind the overbought scenario. All we can do is trade this range &
Dax March contract Daily Forecast - 23 January 2014Dax is stuck in a range from all time highs at 9790/9800 down to 9690/80 while we unwind the overbought scenario. All we can do is trade this range & wait for the breakout. The longer we hold the range, the bigger the chance of a break higher & this has been a regular pattern for the 5 year rally. Any return to 9790/9800 therefore offers a selling opportunity with stops above 9815. Go with a break higher for a move towards 9832/36 then 9848/52.
A break below 9670 keeps the market under pressure for 9645 & if we continue lower look for a test of good support at 9608/00.
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