DAILY DEC'19 DAX - Tuesday's trade idea and technicals
Dec'19 Contract – Against a background of a bullish forecast for this week, Monday’s trading posted a 3rd higher daily low in a row and a gain of almost 100 Pts. A fresh near 1 ½ year top at 12979.0 has left intraday sentiment overstretched and testing the May 2018 top at 13206.0. Pullbacks must be expected, but these should be temporary and the outlook for Tuesday therefore remains cautiously bullish and the call is to buy just modestly on the open and then at 12884.5, yesterday’s low with a stop loss at 12797.5, Thursday’s base. Targets are to 12979.0, yesterday’s high, 13206.0, the May 2018 top and 13596.0, the Jan 2018 record peak.
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