Steve Lucas

DAILY MAR'20 DAX - Thursday's trade idea and technicals

MAR'20 Contract – Bearish signals on the week have been confirmed with initial losses of over 350 Pts. However, with intraday sentiment oversold and buyers returning to the market on Tuesday from close to 13182.0, the 8th Jan Marabuzo line, yesterday’s call was to stay square on the open and to sell the rally. This was the correct strategy, as initial gains were given up and for sentiment to close little changed on the day. Sellers have returned to the market in Asia this morning and with signals continuing to point lower the outlook for Thursday remains bearish and the call is to sell on the open and then at 13311.5, today’s Asia high with a stop loss at 13373.5, yesterday’s top. Targets are to 13167.5, this week’s low, 13002.0, the 8th Jan open and 12939.0, this year’s base


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Steve Lucas

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