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Lucas: Selling Dax on bearish signs and weak US earnings

Steve Lucas is looking to sell September 2015 Dax futures on bearish signals and weak US corporate earnings.

Sep’15 Dax futures have seen a rally in July from the 200-day average and a key 62% pullback to 2015 gains, according to Lucas.

He says this has attracted sellers and on Tuesday selling ended a long sequence of higher daily lows. This is a bearish signal which together with weak US corporate results should keep the focus lower, Lucas says.

Lucas is looking to sell at market and 11650 with a stop at 11700 and his targets are 11478.0 and 11415.5.

00:57 minutes
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