Monday, 22 August 2016

Weekly Spot Outlook of Dax & Dow for 22nd to 26th August

Dax

Last week Dax spot went up 89 points & went down 222 points from the previous weeks close of 10713 and finally ended the week with a loss of 169 points over last weeks close.

Dax had confirmed our monthly long on breaking and sustaining above 10481 . As long as it holds 10481 on closing basis on any correction we can see it bounce back to test higher levels . 

In this week Dax needs to break and sustain above 10655 to confirm uptrend and then one can expect a move till 10772 initially and breaking and sustaining above 10802 will give further confirmation for the next move which can take us till 11014. Similarly Dax needs to break and sustain below 10434 to confirm downtrend and then one can expect a move till 10316 initially and breaking and sustaining below 10287 will give further confirmation for the next move which can take us till 10075.


Dax Levels for the week are

Long above 10613 , Tgt  10655 - 10689 - 10724

IF Dax manages to get a close / sustain above 10772 then ,

long again for 10802 - 10903 - 11014

Short below 10476 , Tgt 10434 - 10399 - 10365

IF Dax manages to get a close / sustain below 10316 then, 

short again for 10287 - 10186 - 10075



Dow

Last week Dow went up 92 points & went down 107 points over last weeks close and finally ended the week with a loss of 24 points over last weeks close .


Dow had confirmed our monthly long on sustaining above 18529 . As long it holds 18529 on closing basis on any correction we can see it bounce back to test higher levels. 

In the coming week Dow needs to break and sustain above 18611 to confirm uptrend and then one can expect a move till 18673 initially and breaking and sustaining above 18689 will give further confirmation of the next move which can take us till 18801 . Similarly Dow needs to break and sustain below 18494 to confirm downtrend and then one can expect a move till 18432 initially and breaking and sustaining below 18416 will give further confirmation of the next move which can take us down till 18304.

Dow Levels for the week are

Long above 18589 , Tgt 18611 - 18629 - 18647

IF Dow manages to get a close / sustain above 18673 then 

long again for 18689 - 18742 - 18801

Short below 18516 , Tgt 18494 - 18476 - 18458

IF Dow manages to get a close / sustain below 18432 then 

short again for 18416 - 18363 - 18304


P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels .

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.