Dax March contract Forecast for 17th January 2013

Dax March contract Forecast for 17th January 2013
Dax March contract Forecast for 17th January 2013
Dax futures held inside the previous days range to leave the outlook unchanged with 7700 holding the topside and 7640 holding the downside as expected.

7700 is tricky resistance again today and daily charts have a more negative tone now so we could see the market under pressure again. We could head back to support at 7676/70 but below 7660 we could retest that 7640/32 area. Try longs again with a stop below 7620 for a test of good support at 7603/7593. We would expect a low for the day here and quite possibly for the week if this area is seen so this would be an excellent buying opportunity.

A move back above 7705 however sees 7715/21 then 7740/45. Above here look for 7769 but little chance of any higher today.

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