DAX targets 11,000
We have seen the index rally off the lows of Monday’s session, but now it needs to break 10,800. With other markets around the world looking strong, we could see the DAX dragged through this key level, which would open the way to 11,000 and higher.
Yesterday’s session showed there is clear buying power around 10,600, so bears need a strong close below this level (and ideally below the 50-day SMA at 10,565) to get a downward move going.
Dow setting record-highs
The pre-Thanksgiving squeeze goes on, with a new record-high for the index. Ahead of the long weekend we may see a continued grind higher, even given the overbought conditions prevailing here.
Support is possible at 18,978 and then 18,744, with dip buying still being a prudent approach here.