Dax 30 JUNE futures Recap & Daily Forecast from Jason Sen – Day Trade Ideas

 

15 May, 2020

Dax 30 JUNE futures

Dax we wrote: breaks strong support at 10560/530 for a sell signal, retesting 10400/370. A break lower risks a slide to 10260/230 & support at 10195/165.

The targets were hit & we bottomed exactly here for a potential 300 tick profit. However we unexpectedly shot higher to hit 10500.

Today’s Analysis

Dax try shorts at 10500/550 with stops above 10600. A break higher is a buy signal targeting resistance at 10680/700. A break above here is a strong buy signal targeting 10740/750, 10790/800 & 10840/850.

Shorts at 10500/550 target 10435/415 then first support at 10380/350. A break below 10320 signals further losses to 10290/280 before a retest of strong support at 10200/150…with further strong support at 10080/050. A weekly close below here is an important sell signal.

Trends

Weekly outlook is neutral Daily outlook is positive

Short Term outlook is neutral

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About the author

JASON SEN Began to study technical analysis in 2006 and established Daytradeideas, the leading provider of daily technical analysis to independent & professional traders within the investment bank community for Stock Index, Energy & Fixed Income products, advising dozens of traders at up to 15 major investment banks and hedge funds on market movement, throughout each trading day on The Bloomberg Professional® service with trade ideas – entry, exit and target levels in daily reports published before the Futures markets open in Europe.