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Trade idea: Buy DAX on equities boots
Steve O'Hare from First 4 Trading is looking to buy the DAX as bullish bias and sentiment continue to support the short term price action on this index.
O’Hare says that US employment numbers provided a further boost for all equity markets on Tuesday. He adds, as the DAX continues its march towards the “psychological” 9000, the main resistance comes in today at this level.
He explains that, there is caveat for this trade: if there is any reversal signal, he will take it by the bears as a positive.
As result, Steve is looking to buy in front of 8880, with stop at 8850 and targets of 8915, 8950 and 9000.
01:09 minutes
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