Good morning traders, it’s Wednesday the 1st of July and time for today’s 01-07-2020 German DAX 30 analysis. Today will be a shorter article because xetra is struggling with technical difficulties and so the DAX stopped trading.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 get to a session high of 12398 and a session low of 12176 giving us a range of 222 points compared to the average daily range of 332. At the close of play last session, the market closed at 12354 which was 518 points above the 200EMA and 595 points above the 50EMA.
What Is The DAX Doing Today?
The DAX is currently Neutral.
The DAX 30 index is currently Neutral with no specific trend. In fact we are pretty much range bound between 11940 and 12398, so we can either look to fade the two extremes assuming the range trading continues, or wait for a breakout above 12398 or below 11940. The issue with a netural market, is that we can’t really use the DAX trading strategy with much positive expected value (+EV).
DAX 30 Index Key Levels
Moving on to the key levels to watch today, watch out for the previous session Point of Control (POC) at 12247 and the previous session Volume Weighted Average Price (VWAP) at 12261. The value area high (VAH) is currently 12292 and the value area low (VAL) is currently 12213.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 62 |
| Stochastic | K: 58 and D: 58 |
| MACD OSMA | -53 |
| Point of Control (POC) | 12247 |
| Value Area High (VAH) | 12292 |
| Value Area Low (VAL) | 12213 |
| The DAX Pivot | 12309 |
| The DAX R2 | 12531 |
| The DAX S2 | 12088 |
| Daily 5 EMA | 12285 |
| Daily 8 EMA | 12272 |
| Daily 50 EMA | 11759 |
| Daily 200 EMA | 11836 |
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