SaxoTV

Lucas: Dax looking down on eve of ECB decisions

288 views
June 04, 2014 dax, dax 10000, dax 30, dax 9000, dax bear, dax bearish, dax bearish momentum, dax bull, dax bullish, dax down, dax downward trends, dax ftse ratio, dax futures, dax germany's dax, dax index, dax index bearish, dax index equityies, dax index trands, dax index trends, dax price, dax rally, dax record high, dax support, dax support levels, dax target, dax trading, dax ukraine, dax2014, daxdax, ecb, ecb action, ecb balance sheet, ecb borrowing costs, ecb bund futures, ecb council, ecb draghi, ecb euro, ecb inflation target, ecb mandate, ecb meeting, ecb negative interest rates, ecb news, ecb policies, ecb policy, ecb president, ecb press conference, ecb rate, ecb rate cut, ecb rate decision, ecb rate decision interest rates, ecb rates, ecb rates decision, ecb stress, eurozone, macro, saxo bank, saxo bank saxo tv, saxo bank trading floor, saxo bank tradingfloor.com, saxo traders, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxotv, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloorcom
On the eve of the long-awaited ECB announcements, Steve Lucas from 3c Analysis is looking at the Dax. 
The DAX index posted a record high on Monday at 9993 but the market has now ended a sequence of higher daily lows. 
Volume has been light and market breadth has been narrow and these signs point to a negative bias says Steve.    
There could of course be market consolidation ahead of the ECB decisions so Steve is not looking for huge gains. 

He suggests Sell at the open: then at 9954  

Stop: 9993

Targets: 9825, 9779

Disclaimer
Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.
Please read our notification on
Non-independent investment research disclaimer
Full disclaimer