DAILY MAR'20 DAX - Tuesday's trade idea and technicals
MAR'20 Contract – This week’s signals are bearish, and these are being confirmed with Monday’s initial 226 Pt sell-off. However, buyers have returned to the market from close to December’s 12880.5 base, sentiment recovering by over 250 Pts from the low. The subsequent formation of a daily Hammer is positive and although the rally may be corrective and temporary the outlook for Tuesday remains bullish and the call is to buy modestly on the open and then at 13137.5, today’s low in Asia with a stop loss at 13040.0. Targets are to 13254.0, a 62% recovery to this year’s sell-off, 13305.0, Friday’s Marabuzo line and 13449.5, Friday’s top.
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