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Dax: Forecast January 21, 2015

Published 01/21/2015, 08:03 AM
Updated 07/09/2023, 06:31 AM

DAX March Contract

Dax March now so overbought that risks are increasing to the downside. Again today, failure to beat 10,270/10,260 sees 10,220/2015 then this week's low at 10,195. Be ready to go with a break lower to target 10,175 and perhaps far as good support at 10,130/120. A good chance of a low for the day to try longs with a stop below 10,090. However just be aware that on a break lower we should target excellent short term support at 10,040/030.

It will need to beat 10,270/10,260 to retest Friday's high at 10,305/316. Be ready to go with a break higher today to target 10,350/355 then 10,370/375. Any further gains this week could target 10,440/450 then 10,550/560.

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