The German stock index (DAX) is showing signs of exhaustion of the 2023 rally, following our strong buy signal last week. The 4H RSI hit and got rejected on the 84.600 Resistance level, which is where a Channel Up started on November 11 2022. The Channel Up made one last High before it broke below the 4H MA50 (blue trend-line) and started a correction (short-term)...
Overbought on RSI with MFI divergence. Also overbought on daily for both. US market appears to be in a melt up but this scares me. Europe dictates gap direction, might be wise to day trade and buy the morning dips. Not really sure. Hard for me to hold anything overnight when FDAX is overbought
i close my buys now and looking for sell now ALERT = daily chart TECHNICAL SAY DAX CAN GO TO 19000 IN 2023 SO BE CAREFUL FROM SELL above green arrow after pinbar apear on 1h or 4h or daily chart we must buy and hold it 10-20 day if you have old sell against my analyse and advice you must hedge them near 148000 good luck ON DAX AC INDICATOR ...
I posted a daily chart earlier, but someone wanted to see a 3hr so here we are. Overbought on 3 hr with MFI divergence. Testing a major resistance just like everything else. It really looks like tomorrow is the make or break day for everything, lol. FYI, I never trade DAX, just use it for gap direction for the US market. It will NOT matter tomorrow though...
FDAX daily RSI overbought, 3 hr way overbought Testing resistance line as is ES1! (see daily plot). We'll see if it breaks through or tanks tomorrow.
RSI overbought with MFI divergence on the 3 hr chart. Note that it's also close to the resistance zone. Guessing they do a pump and dump tomorrow, not sure which way the US market gaps.
Overbought again but starting to look like a melt up Maybe they're happy they aren't freezing to death this winter, lol. Or maybe they like recessions. Europe has less of a reason to rally than the US, so it's all pretty funny. With the central banks killing the commodity trade, I guess they have nowhere else to throw their money. This just goes to show...
Reaction to Fed minutes starting to look bearish, FDAX is overbought so possible gap down tomorrow.
DAX is on a very strong rebound after holding the 1D MA50 (blue trend-line) as Support, having closed all 1D candles above it since December 20. As mentioned on previous analyses, the target is the 14680 - 14950 Resistance Zone. We are looking to take profits on the first sign of rejection within that zone. Beyond that, we will buy either after a 14950 bullish...
Hit overbought and stalled this morning, possible gap down tomorrow. NQ MFI is oversold, but none of the other indices are yet.
The German stock index (DAX) has had a strongly bearish week as it got rejected just below the 14700 June 06 High, inside the greater Resistance Zone that is holding since March 29. As we mentioned last week, this is a much needed technical pull-back following the +24.50% rise since the October 03 Low. The 1D RSI got vastly overbought above 80.000 and it is only...
RSI is already oversold. ES is not though so could be a whipsaw daqy tomorrow
Today the German stock market (DAX) completed a Golden Cross pattern on the 1D time-frame, which is when the 1D MA50 (blue trend-line) crosses above the 1D MA200 (orange trend-line). That is technically a bullish formation and that is what we interpret it as, at least on the long-term. Historically a 1D Golden Cross delivers new Bull Phases on DAX and it was such...
The price failed to break above the 4H MA50 (red) and dropped more to a new Low. This is getting closer to our 14,150 short-term target just above the 14,130 Support (formed from the low of November 15th). 4H is now close to oversold territory (RSI = 34.750, MACD = -47.400, ADX = 59.234) so we might see a short term rebound back to the 4H MA50 (14,446.70 and...
DAX continues to slowly but steadily grind higher using the 4H MA50 (14,451) as Pivot. With such neutral 4H technicals (RSI = 50.442, MACD = 15.00, ADX = 16.012), we will engage today in scalping activity within the 4H Bollinger Bands (14,590 - 14,389). A break above 14,650 would be a break-out bullish call targeting 14,710 (June 6th 2022 High) Resistance, while a...
Indicators are neutral and index is just drifting sideways. Gap direction Monday will depend on pre-market "news", otherwise probably a flat open.
The German Index (DAX) hit last week its 1W MA100 (green trend-line) and early this week, the 1W candle is pulling-back in red. If it closes this way, it will be the first week of loss (red) since late September, running an amazing streak of 8 straight green ones. With the 1W RSI almost reaching 65.000 for the first time since November 15 2021 (a whole year ago),...
FDAX also has an open gap though it tends to leave gaps open for longer than US market, looks to me like it;s headed to oversold