Last week in this article, we had pointed out that the S&P future fall should have found a solid support at 1.270 points. It was actually an excellent forecast as last week it touched a minimum at 1.262 points and then bounced up strongly.

We expect it to pullback the low part of the red channel (1.440 points) where we would be ready to open short positions.

Updates will follow.

White candle and average volumes have characterized today's session of the Dax future that has traded for the last 9 weeks within the range 7.030 - 6.690. Our advice is to wait till it moves out of this restricted channel. Technically talking we should open short positions if the future hits and breaks the support at 6.690. On the other hand, above the resistance at 7.030, the breakout should push the price up.

Short: < 6.690 and T1 at 6.400.

Long: > 7.030 and T1 at 7.430.