Dow Dax to go higher

Dax bounced off 11200 strongly and formed a hammer so will go higher in time. Dow has plenty of support between 17450 and 17647 so if the buyers return and we break above 18300, expect to push on to 20000, of course Putin or ISIS can change all the above in an instant, as can Yellen:cheesy:
 

timsk

Legendary member
7,600 2,375
dax my friend is on fire, as usual
it will revisit previous highs naturally
Hi Bob,
It's struggling to regain - or retain - the momentum that led to the breach of last Tuesday's high at 11,466. It might well challenge Friday's high of 11,600 but, equally, I think it will test support at around 11,460 (blue line on the attached chart). Certainly, if it fails to get above Friday's high, then a breach of this support area increases in probality, IMO.

So yes, the Dax is still bullish certainly, but it's not quite as 'on fire' as it was, IMO!
Tim.
 

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fxstrategist

Established member
604 16
Lets see how the markets keep digesting the FED's announcement. Most likely they will try to keep rising, but lets keep in mind that an interest rate hike is not completely off the table.
 
 
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