| Videos | Channels | Search |
Why I'm Still Bearish On The Dax
Trader Steve Lucas from 3C Analysis is focusing today's trade on Germany's Dax. We've seen a rally since last week's lows and that this has started to attract sellers. In addition to that, the FTSE 100 has been outperforming the rest of Europe, so it has turned in to a bear market.
Germany has recently enjoyed a slight economic growth boosted by strong exports to countries such as China. It's mainly auto leaders such as Volkswagen which have helped prop up the German economy.
Steve is looking to sell on the open and on the intraday bounce at 7941. He is looking for a stop at 7997 and his targets are 7805.5 and 7714.
Meanwhile, the Dax Index turned 25 years earlier this week. It began trading at 1988, a year before the Berlin Wall fell.
01:10 minutes
Tags: 3c analysis, bear market, berlin, berlin wall, china, dax, dax germany's dax, dax index, europe, eurozone, exports, ftse 100, german cars, german economy, germany, intraday bounce, markets, saxo bank, saxo tv, steve lucas, trader, trading, tradingfloor.com, volkswagen