DAILY Sep'19 DAX - Friday's trade idea and technicals
Sep'19 Contract – Thursday’ signals pointed cautiously lower but following a bearish open and initial losses of 70 Pts the short position was cut at breakeven as buyers returned to the market and for sentiment to post a gain of almost 200 Pts on the day. This is positive and signals have improved, but futures are testing the neckline to a potential bullish Head & Shoulders reversal pattern. Until this formation is confirmed the outlook for Friday is just cautiously bullish and the call is to buy on the open and then at 11820.0 with a stop loss at 11768.0, yesterday’s Marabuzo line. Targets are to 11900.0, the 3 week high, 12070.0, the 2nd Aug top and 12260.0, this month’s high trade.
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