Dax March contract Forecast for 25th January 2013

Dax March contract Forecast for 25th January 2013
Dax March contract Forecast for 25th January 2013

Dax futures held 7660 on the move lower but we are holding the range of the past 3 weeks in a market that is directionless. Outlook is therefore unchanged for today.

Immediate resistance at 7721/24 then 7750. A break above 7769 should then allow a test of 7795/7805 highs for the month and tough resistance today. Exit any longs and try shorts with a stop and reverse in to longs again above 7815 for 7826 and above here a run to 7896/7906 to take profit on those longs.

Failure to get through 7724/21 could take us to 7701 and if we continue lower look for 7676/70. Below 7660 we could retest the lower end of January’s range at 7640/32 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.

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