The DAX is trapped inside a bullish sideways consolidation above the
support zone of 120291, but the overall outlook is still there, as
the Index’s price action is moving in favor of the bulls in the short-term picture. If the DAX succeeds in breaking the pivot point level of
10423, then it can rally toward the 10503 level.
Trading recommendations for today:
Based on the H1 chart, place buy
(long)
orders only if the DAX
breaks a bullish
candlestick; the resistance
level is at 10423,
take profit is at 10503,
and stop loss is at 10342.
The material has been provided by InstaForex Company – www.instaforex.com
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