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Lucas: Dax dipping as market thins

Steve Lucas thinks the failure of the Dax to get back to record highs first hit two weeks ago means that the index will continue dipping. Steve says: "Yesterday’s reversal has weakened signals and we should get further confirmation of a potential topping pattern on the open today with a break of the trend of higher daily lows."


Steve's trade is to sell on the open and then on any intraday bounce to 12053.0, the last 6 hour high, with a stop loss at 12092.0, Tuesday’s opening trade.

Targets: 11843.0, a 50% pullback to gains since last week’s low and 11650.0, last week’s base.

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01:26 minutes
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