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DAX nails moving average range yesterday, but will it do so again today?

As covered here yesterday, the DAX stalled right where one might have expected it to and rejected a rise above its 50 day moving average. That was in place yesterday at 18,366 and the high seen was set at 18,363. So, as commented on later, the index pretty much nailed that technical level and subsequently fell back to a low at 18,045.  Hence, it also rejected a break below its 100 day moving average later on. As mentioned, trading the range between these two technical levels has been the way to travel lately and as you can see today, it sure was bang on the money yesterday. The DAX did manage to rebound into the close though, when ending the session at 18,155, with a loss of just 22 points on the day. The fact that it had earlier wiped out an almost 200 point gain can hardly taken as a positive though. That said the index future is just now pointing to a slightly higher opening for the penultimate session of the month. Meantime that 50 day moving average is in place (as of the close) at 18,363, but it will likely fall back a bit more when the index reopens. The 100 day guarding the base is in place on the same basis at 18,036. The DAX is just now priced to reopen at around 18,180 
 

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