DAX rebound Expected
Pivot: 12524.00
My preference: long positions above 12524.00 with targets at 12705.00 & 12753.00 in extension.
Alternative scenario: below 12524.00 look for further downside with 12490.00 & 12390.00 as targets.
Comment: a support base at 12524.00 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
12840.00 *
12753.00 ***
12705.00 **
12603.00 Last
12524.00 ***
12490.00 **
12390.00 *
My preference: long positions above 12524.00 with targets at 12705.00 & 12753.00 in extension.
Alternative scenario: below 12524.00 look for further downside with 12490.00 & 12390.00 as targets.
Comment: a support base at 12524.00 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
12840.00 *
12753.00 ***
12705.00 **
12603.00 Last
12524.00 ***
12490.00 **
12390.00 *
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