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Lucas: Why I am buying the DAX

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January 13, 2016 bank, banking, bear, bearish, bull, bullish, capital, china, chinese, data, dax, equities, equity, futures, german, germany, group, idea, index, indices, lucas, market, markets, risks, saxo, saxobank.com, saxotrader, saxotradergo, saxotv, steve, stock, stocks, strategies, strategy, support, tale, trade, trader, traders, trades, trading, tradingfloor, tradingfloor.com, tradingfloorcom, trend, tv, view
So far his bearish stance in Q1 has worked well, but Steve Lucas says there are now plenty of reasons to be bullish when it comes to the DAX. 

Markets tanked at the start of the year due to investor concerns over China, but according to Lucas a key monthly bull trend has emerged for the Mar’16 DAX futures. 

He says there are several factors adding to support to this potential such as decent Chinese trade data and an improvement in oil prices. 

Lucas is looking to buy at market and then 10070.0 with a stop loss at 9990.00. His targets for the trade are 10167.5 and 10342.5.