Dax March contract Forecast for 21st January 2013

Dax March contract Forecast for 21st January 2013
Dax March contract Forecast for 21st January 2013

Dax futures have been stuck in a 90 point range since the start of the month as we unwind overbought indicators and we could remain in this range for a while longer.

We could head back to support at 7701 and if we continue lower look for 7676/70 but below 7660 we could retest that 7640/32 support area for exiting any shorts. Try longs again with a stop below 7620 for a test of good support at 7603/7593 and an excellent buying opportunity.

7769 should be very tough to beat again today but if we do push higher look for 7795/7805 highs to be tested. Exit any longs and try shorts with a stop and reverse in to longs again above 7815.

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