Saturday, 17 September 2016

Weekly Outlook for Dax & Dow for 19th to 23rd September

Dax

Last week Dax spot went down 311 points from the previous weeks close of 10573.44 and finally ended the week with a loss of 297 points over last weeks close and also closed near the lowest point of the week.

Dax had confirmed our monthly shorts on breaking and sustaining below 10440 . Now on closing or sustaining below 10239 we can see it test the next supports at 10100 - 9947 incase of further correction .

In the coming week Dax needs to break and sustain above 10352 to confirm uptrend and then one can expect a move till 10432 initially and breaking and sustaining above 10452 will give further confirmation for the next move which can take us till 10596. Similarly Dax needs to break and sustain below 10201 to confirm downtrend and then one can expect a move till 10121 initially and breaking and sustaining below 10100 will give further confirmation for the next move which can take us till 9956.

We can expect uptrend continuation in Dax above 10745 and downtrend below 10440 for this month.

Dax Levels for the week are

Long above 10323 , Tgt  10352 - 10375 - 10398

IF Dax manages to get a close / sustain above 10432 then ,

long again for 10452 - 10521 - 10596

Short below 10229 , Tgt 10201 - 10177 - 10154

IF Dax manages to get a close / sustain below 10121 then, 

short again for 10100 - 10032 - 9956



Dow

Last week Dow went up 273 points & went down 93 points over last weeks close and finally ended the week with a gain of 38 points over last weeks close .


Dow has confirmed our monthly shorts on closing below 18294 . Now on sustaining below 18153 we can see it test the next supports at 18010 - 17938 incase of further correction . 


In the coming week Dow needs to break and sustain above 18310 to confirm uptrend and then one can expect a move till 18507 initially and breaking and sustaining above 18557 will give further confirmation of the next move which can take us till 18913 . Similarly Dow needs to break and sustain below 17937 to confirm downtrend and then one can expect a move till 17740 initially and breaking and sustaining below 17691 will give further confirmation of the next move which can take us down till 17335.


We can expect uptrend continuation in Dow above 18508 and downtrend below 18294 for this month.

Dow Levels for the week are

Long above 18239 , Tgt 18310 - 18368 - 18425

IF Dow manages to get a close / sustain above 18507 then 

long again for 18557 - 18727 - 18913

Short below 18009 , Tgt 17937 - 17880 - 17822

IF Dow manages to get a close / sustain below 17740 then 

short again for 17691 - 17521 - 17335


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 .

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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. Se