DAILY SEP'17 DAX - signals point to temporary bounce
​ Bearish signals for DAX on the week and for Tuesday have been confirmed, investors selling futures yesterday to post a 3rd lower daily low in a row and a loss of 200 Pts on the day. Although this is negative, the sell-off has stalled near the June & July low trades which are close to the 100 day average rate as well as to a 38-50% pullback to the entire 2017 gains, levels which have been expected to attract buyers. There should be a temporary bounce from this area, so with this in mind the outlook for Wednesday is to buy on the open and at 12410.0 with a stop loss at 12363.5, yesterday’s low. Targets are to 12495.0, 12569.0, yesterday’s high and 12668.0, this week’s top.
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