DAX
Dax is in red on Monday and continues to pressure strong supports at 10600 zone (daily higher base / near Fibo 23.6% of 10020/10796 rally) that was cracked on today’s dip to 10575. Multiple downside rejections here formed a base of near-term congestion that was capped just under 10800.
Sustained break lower is needed to generated strong bearish signal for deeper correction of the upleg from 10020.
Thin daily cloud offers mild support en-route to 10500 (Fibo 38.2% retracement) which marks next strong support and trigger. South-heading daily indicators favor scenario.
Conversely, failure to clearly break 10600 handle would signal further range trading.
Initial resistance lies at 10628 (broken 30 SMA) ahead of upper pivot at 10688 (10SMA / session high).

Res: 10628; 10688; 10713; 10772
Sup: 10575; 10535; 10500; 10455

DOW JONES
Dow eased from Friday’s new all-time high at 19147 but still holding above psychological 19000 level. The index is driven by very strong bullish sentiment that drove it to a series of new record high last week.
Extremely overbought daily studies have so far being ignored, however, correction should be anticipated, as studies on larger timeframes are also extended.
Initial support lies at 19000, followed by 18970 (rising daily Tenkan-sen) and 18900 (4-hr cloud top mid Nov former highs). Corrective dips should be ideally contained around 18800 support to keep strong bullish structure intact.
Res: 19120; 19147; 19200; 19350
Sup: 19000; 18970; 18900; 18800

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