A daily shooting star at Monday’s fresh 2016 high of 10804.0 has kept SEP'16 Dax
signals bearish in each of the last three days. While these have been confirmed with losses of almost 300 points from the top, Thursday’s trading saw sentiment trade inside the previous day’s range for just a modest down-day. However, with no sign yet that the pullback is ending, but with signals of it being potentially corrective and temporary, today's outlook remains negative.
Management and risk description
Lower the stop to entry if the first target is met.
Entry: Sell at market and 10660.0, Wednesday's open.
Stop: 10703.0, Wednesday's high.
Target: 10446.0, a 50% correction to August's gains, and 10396.5, last week's low trade.
Time horizon: Today only.
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— Edited by Susan McDonald
Non-independent investment research disclaimer applies. Read more