Signals positive for the Dax, but investors wary of UK vote outcome
Although the rally since Thursday’s 9421.0 low may be corrective, a sequence of higher daily lows kept Tuesday’s signals positive and pointing to buying the dip. Although the pullback did occur, it was shallow, sentiment recovering to post a third higher daily low & high in a row and a close above the psychological 10,000.0.
Signals remain cautious ahead of the Brexit vote, but the trend of higher daily lows keep them pointing higher.
Management and risk description
Allow room to buy the dip and raise stop to entry if the first target is met.
Entry: market and 10010.0.
Stop: 9968.0, Tuesday's open.
Target: 10216.0, the June 8 close and 10300.0, June's high.
Time horizon: Today only.
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