With the majority of global stock indices on a seasonal correction, DAX hasn't escaped the pattern and is down -4.85% from the 2019 highs. What stands out is that the downside on this correction is limited to -5.85% (avg) based on the last occurrence of the Golden Cross (MA50 over MA200) on a similar candlestick pattern. In 2016 following the post Brexit rally...
After closing the gap yesterday, we saw yet another strong selling. Bears dominated till the session end and bulls had no chance whatsoever. The session closed at 12 034 which is now an interesting support level. Important zones Resistance: 12 146 Support: 12 034, 11 958 Statistics for today Detailed statistics in the Statistical Application Very low...
For a change, yesterday’s session was in the hands of buyers. We first found some sellers at the resistance zone of 11 956 and they pushed the Dax some 50 points lower before buyers stepped in. Dax is opening with an ascending gap today. Important zones Resistance: 12 139 Support: 11 946 Statistics for today Detailed statistics in the Statistical...
Welcome to a new trading week. After the initial chop on Friday, the price descended towards the support level at 12036, which was well respected on the first attempt. During the second retest, the level was slightly broken. Following was the entry of buyers who took the price all the way to retest the resistance of 12 194 where Dax closed the week. Over the...
The index is pulling back making use of the negative global trade fundamentals, but purely on a technical perspective this selling is a natural retrace of the 1W Channel Up (RSI = 56.647, MACD = 122.700, Highs/Lows = 191.3357) towards a new Higher Low. We have calculated this to be at 11,865 on a Support level that extends as back as September 2018. ** If you...
Leverage 2x DAX index versus Lyxor LevDax ETF part 2 ...
Pattern: Channel Down on 4H. Signal: Bearish after a Lower High rejection today. Target: 11,855.70 (4H Support). *Note: If 11,800 breaks, the 1D Channel Up can technically reach its Higher low at 11,620.
We have seen the current trading set up on DAX during its previous mini bear cycle (April 2015 - February 2016). During that time the index finally broke upwards for the new mini bull cycle once both Lower High trend lines were crossed and held as supports on at least 1 re-test. Currently DAX has broken above the first Lower High trend line (dashed) and has...
The index is still on a long term recovery within the 1D Channel Up (RSI = 58.547, MACD = 106.300, Highs/Lows = 0.0000). This time however 4H is on a Lower High sequence with 11,400 supporting this fragile set up. With the price already rejected just below the 11,686 - 11,838 1W Resistance Zone, we are expecting a stronger correction if 11,400 breaks. TP1 =...
Pattern: Channel Up on 1D. Signal: Long as it approaches a Higher Low. Target: 11250, the last high and current resistance.
Pattern: Rectangle on 4H. Signal: Scalping within the soft Support - Resistance range (10808 - 10955). Hard range (1077.50 - 10990.50) can be also considered by those who seek maximum profit but on greater risk. Target: Short TP 10820, Long TP 10940.
The DAX 2-hour chart is corresponding to the Daily Update for June 25th, 2018.
The DAX 2-hour chart is corresponding to the Daily Update for June 12nd, 2018.
Anticipated "exhaustion " levels for today are:- SHORT @ 10765.5; Stop: 200 points. Target: 600 points. LONG @ 10630.0; Stop: 200 points. Target: 600 points.
Buy from 10600-10650 area. Be patient. 3-4 day setup, may become valid on next week / monday.
SHORT @ 10730.0; Stop: 200 points, Target: 600 points. LONG @ 10515.0; Stop: 200 points, Target: 600 points.