Day trade
Trade view / 15 July 2016 at 6:00 GMT

SEP'16 DAX: Overbought, but dip buying dominating sentiment

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: GER30.I
Price target:
Market price:

All of this week’s bullish targets have been met with a near 500-point rally. Thursday’s bullish signals have also been confirmed, investors buying futures to post a sixth higher daily low in a row and a gain of almost 200 points on the day. This is all positive, but the bounce is potentially corrective and it is testing the 200-day average rate as well as a weekly bear trend. With no sign yet that demand to buy dips is ending though, signals continue to point cautiously higher.

Management and risk description

Buy the dip and raise stop to entry if the first target is met.


Entry: Market and 9970.0.

Stop: 9915.0, the window which has been left open since Wednesday's close.

Target: 10190.0 and 10340.0, June's top.

Time horizon: Today only.

DAX charts


DAX 4 hourly - recovery to losses

DAX Weekly - Bear Trend

DAX Monthly - key 50% pullback
 All charts  CQG. Create your own charts with SaxoTrader. Click here to learn more  

— Edited by Susan McDonald

Non-independent investment research disclaimer applies. Read more


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