Weekly Levels of Dax & Dow for 15th to 19th August

Dax

Last week Dax spot went up 376 points & stayed above the previous weekly close of 10367 as the low for week was 10403 and finally ended the week with a gain of 346 points over last weeks close.

Dax has 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 . Sustaining above 10671 we can see Dax test  10945 .

In this week Dax needs to break and sustain above 10836 to confirm uptrend and then one can expect a move till 10965 initially and breaking and sustaining above 10998 will give further confirmation for the next move which can take us till 11232. Similarly Dax needs to break and sustain below 10591 to confirm downtrend and then one can expect a move till 10462 initially and breaking and sustaining below 10429 will give further confirmation for the next move which can take us till 10195.

Dax Levels for the week are

Long above 10789 , Tgt  10836 - 10874 - 10991

IF Dax manages to get a close / sustain above 10965 then ,

long again for 10998 - 11109 - 11232

Short below 10638 , Tgt 10591 - 10553 - 10515

IF Dax manages to get a close / sustain below 10462 then, 

short again for 10429 - 10317 - 10195

Dow

Last week Dow went up 95 points & went down 75 points over last weeks close and finally ended the week with a gain of 33 points over last weeks close .

Dow has 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 18660 to confirm uptrend and then one can expect a move till 18748 initially and breaking and sustaining above 18770 will give further confirmation of the next move which can take us till 18929 . Similarly Dow needs to break and sustain below 18493 to confirm downtrend and then one can expect a move till 18405 initially and breaking and sustaining below 18383 will give further confirmation of the next move which can take us down till 18224.

Dow Levels for the week are

Long above 18628 , Tgt 18660 - 18685 - 18711

IF Dow manages to get a close / sustain above 18748 then 

long again for 18770 - 18846 - 18929

Short below 18525 , Tgt 18493 - 18468 - 18442

IF Dow manages to get a close / sustain below 18405 then 

short again for 18383 - 18307 - 18224

This week could set the trend for the next big moves

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 trades taken on them should be done with a strict trailing stop loss