Dax futures saw profit taking as expected but with no sell signal we were buying in to weakness as the safest strategy. Support at 7802 was hit where we predicted a bounce and possible low for the day and this was in fact the exact low.
With US markets higher over night we should be testing the week’s high at 7888 and a break higher should finally hit our target of 7896/7906. This may hold the top for now but a push through here would see us on the way to 7930/33 and then 7988/96.
We continue buying in to weakness as the safest strategy with support at 7835 then 7802 unlikely to be broken at this stage, but a break targets 7776 and maybe the 9 day moving average and short term 61.8& Fibonacci support at 7749. This should be a very good buying opportunity this week.