Dax Technical Analysis 18/09/2017

Dax Outlook

This morning we gapped above all previously discussed resistance levels from last week in the latest show of bullish strength and the momentum is still very much alive.

Last week our problem was being unable to find an entry as we were waiting for a pullback that did not happen. The best entries came from reading intraday price action and taking shorter-term trades, than placing orders at pullback zones. So trading was quieter than we would have like and instead we spent time studying the price action.

Bullish target zone 12750-12800

Best opportunity at the moment is a potential long at the bottom of the gap (from today) to target a continuation higher towards that target zone. We have another value area in the 600-650 zone, so if we are ready for another price discovery phase (markup) then this would be a reasonable expectation for shorter-term targets.

As for moves to the downside, we still have the 500, 480, 440 and gaps lower down which may provide better footholds.

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Dax & FDAX Technical Analysis 18-09-2017

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