Good morning traders, it’s Monday the 1st of June and time for today’s German DAX 30 analysis. Equities on major European stock markets started the first trading session of the week higher as investors awaited manufacturing data set to be released soon after the opening bell. During the weekend, European Union’s Chief Brexit Negotiator Michel Barnier warned the British government Brussels will not sign a deal that would harm the bloc or “the integrity of the single market.” A key focus today remains the tense situation between the US and China over Hong Kong and Trump will hold a press conference about sanctions against Chinese officials who are dealing with Hong Kong. In the euro area, the ECB’s monetary statistics for April and preliminary HICP inflation in May are due out at 11:00 CEST.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 reach a session high of 11733 and a session low of 11525 giving us a range of 208 points compared to the average daily range of 260. At the close of play yesterday, we closed at 11678 which was 844 points above the 200EMA and 844 points above the 50EMA.
DAX Key Levels
Taking a look at the key levels to watch today, watch out for the previous session Point of Control (POC) at 11662. Today’s initial balance is between 11784 and 11826, so watch for a momentum break of either of those two levels. The value area high is currently 11691 and the value area low is currently 11603.Here are some more levels to watch out for:
- The 5 EMA (Daily): 11612
- The 8 EMA (Daily): 11470
- The 50 EMA (Daily): 10834
- The 200 EMA (Daily): 10834
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 70 |
| Stochastic | K: 97 and D: 96 |
| MACD OSMA | 84 |
| Point of Control (POC) | 11662 |
| Value Area High (VAH) | 11691 |
| Value Area Low (VAL) | 11603 |
| The DAX Pivot | 11645 |
| The DAX R2 | 11854 |
| The DAX S2 | 11437 |
DAX Signals & Dax Trading Strategy
Remember, you can get a copy of the DAX trading strategy for yourself. All you need to do is get Sierra Chart installed on your machine. If you need a reminder of how to do that, visit the dax trading strategy page.
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart.
Our DAX signals members get access to the trading strategy and can use it on multiple markets (Sierra Charts required to install the strategy independently).
