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DAX Bull Gap Bounce; Upside Bias

Posted by on in Equity Index Chart Updates
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DAX Bull Gap Bounce; Upside Bias

A bull gap Tuesday (11940.5-38.5) to probe above our target at 12052.5 and reinforce the recovery effort from 11650 support.

This leaves a positive tone for Wednesday and leaves upside extension risks for late April intact.

For Today:

We see an upside bias for 12113.5; break here aims for 12361, maybe even the recently set 12429.5 record high, which we would look to try to cap.

But below 11940.5-38.5 aims for 11832, which we would look to try to hold again.

Short/ Intermediate-term Outlook - Upside Risks:

We see a positive theme into April to 12735, 13150 and 13375 Fibo extension levels.

Interim options targets are seen at 12500 and 13000.

What Changes This? Below 11650 eases bull risks; through 11421.5 signals a neutral tone, only shifting negative below 11215.

If you want to see more, you can view the full DAX future report with screencasts, levels and day trade views - click here
And remember, for a FREE trial of our Equity Index Futures and all other reports sign up by clicking here

4 Hour DAX Future Chart


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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