DAX Report 2019-08-13

Intermediate

Dax is holding what is now resistance at 11700/720 on the bounce to re-target 11650 & 11610/600. Further losses target 11550/560 perhaps as far as 11470/460 before a retest of the low so far at 11435. A break lower targets 11400/380, 11320/300 & below 11280 risks a slide as far as support at 11180/170.

Bulls need to beat 11750 to target 11790/799, perhaps as far as resistance at 11830/850. Shorts need stops above 11900 to target 11960/980 then resistance at 12100/150. Shorts need stops above 12200.

DAX Monthly Chart 2019-08-13

Editor

Jason Sen began his trading career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successful...continued

Comments on this analysis

Your email address will not be published. Required fields are marked *


Latest Related News

Next bull leg resuming for share indices (DAX forecast)

A firm rebound for global stock averages Wednesday, after the late June-early July surge higher, to try to reject the corrective setback tone so far this week.This has resumed the more bullish threat we highlighted last week as stock indices have begun to resolve the consolidation theme from earlier in June to a more bullish outlook.The more bullish viewpoint has been driven by better than… Continued

Stocks averages sustain bull threats (S&P 500 forecast)

In Friday‚Äôs publication we highlighted the more bullish threat for the German benchmark stock index future, the DAX forecast.The gains so far this week by share indices globally have reinforced the surge higher last Thursday, after the far better than expected US Employment report for June, which produced bullish breakout attempts from multi-week range environments from June.Here we look at the US benchmark stock index… Continued

Stocks averages signal bull trend threat (DAX forecast)

A surge higher for global stock averages on Thursday to start to resolve the indecisive tone across indices from the past 2-3 weeks to a more bullish outcome.This was driven by a far better than expected US Employment report for June, with the belief in a strong re-opening of the global economy outweighing the threats from the global rise in new COVID-19 cases (particularly in… Continued

Is the bear market rally top in? US COVID-19 cases weigh on stocks

Macroeconomic/ geopolitical developments Global financial markets continued the indecisive tone seen through mid-June into the end of the month, which has been in relation to competing forces; positive economic data/ strong retail demand/ support from the authorities on the one hand and the rise in COVID-19 cases on the other.The strong rally from mid-May into the first half of June, was driven to some extent… Continued

Is a bigger top going in for stocks? – DAX forecast

A meaningful selloff for global share averages over the past 24 hours as global stock averages have reacted to the rise in significant coronavirus cases in some US states, alongside a new outbreak in Australia alongside ongoing outbreaks in Japan, China and Germany.This has weighed on risk assets, already damaged by the mid-June selloffs after the subdued outlook for the US economy from the Fed.Here… Continued

Forex Brokers in your location