DAILY JUN'19 DAX - Tuesday's trade idea and technicals
The end to a sequence of higher weekly lows has kept this week’s signals pointing lower and these have already been confirmed with Monday’s strong 350 Pt sell-off. The deterioration is probably corrective, and futures are testing a 50-62% pullback to the entire Mar-May gains. Buyers have returned to the market in Asia this morning, but although those gains too are probably corrective and temporary the outlook for Tuesday is very cautiously bullish and the call is to buy on the open and then at 11870.0 with a stop loss at 11837.0, today’s low trade in Asia. Targets are to 11969.0, Friday’s base, 12079.0, a 38% recovery to May’s losses and then 12154.0, a deeper 50% correction.
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