DAILY Jun'19 DAX - Wednesday's trade idea and technicals
Despite Monday’s over 200 Pt recovery, yesterday’s signals were bearish. These were confirmed as investors sold futures to post a 2nd lower daily high & low in a row and a loss of 300 Pts on the day. This is negative, but although there is no sign yet that the deterioration is ending, prices are trading towards 12017.0, a 38% correction to the entire Mar-May gains, a level which may attract temporary buying. For this reason the outlook for Wednesday remains bearish, but cautious to start with the call is to stay square on the open and to sell on the rally at 12177.0, Tuesday’s Marabuzo line with a stop loss at 12254.0, a 50% recovery to the losses posted since May’s top, or to sell down through 12006.0, the 3 week low with a stop loss at 12120.0. Targets below 12006.0 are to 11877.5, a deeper 50% correction to the Mar-May rally and 11738.0, a 62% Fibonacci.
3cAnalysis – live analysis that improves trading performance. Our analysis is highly respected by major Institutions throughout the UK and Europe. We set the standards for high end, live, independent technical analysis research across 3 asset classes and 3 time frames and with exceptional directional success over more than 9 years.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.