2019Daily OutlookDAX Technical Analysis

04-04-2019 Dax Technical Analysis

04-04-2019 Dax Technical Analysis

The Dax missed 12,000 yesterday after getting as high as 11 997.5 and then 11 990 this morning. Yesterday’s candle opened at 11 784 closed at 11 979.5 meaning a gain of 195 points. This 195 point gain comes off the back of four previous consecutive bullish candles. I have pulled a study to check all the previous times similar again had happened after consecutive bullish runs. Over the last three years it only happened three other times, here they are.

and(
c-o>194,
c[-1]>o[-1],
c[-2]>o[-2],
c[-3]>o[-3])

 

Dax Technical Analysis Video

Dax Hourly Technical Analysis

Looking at the profile on the left (which begins from the major low of March 25), we can see three key levels to watch to the downside. 11 930, 11 767 and 11 706. Think of these levels as zones rather than specific price points. 11 930 held the first tag this morning. I also have three upsloping low to low trendlines with the first one having the least steep angle and the final one having the most steep angle. Price has already broken the third line and found support on the second line. I also note that between 11 767 and 11 930 there is not a large amount of volume in that zone. But the retracement seems to be low on the Dax’s agenda.

Dax Profiles

Yesterday’s auction was a series of higher highs and higher lows with barely any retracement. The price action did not take out the previous day. Control, it then broke through the previous days (during the Asian session) and kept pressing the accelerator pedal. This morning we just about tagged yesterday’s point of control at 11 930. Today will likely provide a conclusion to the 12,000 story.

 

Dax Key Levels CFD

DAX KEY LEVELS
  CFD
POC :  11916.0
VAH :  11954.5
VAL :  11885.0
VWAP :  11920.4
R2 :  12101.6
S2 :  11712.9
Pivot :  11907.2
High : 11655.9
Low : 11562.8

 

Dax Key Levels Futures

FDAX KEY LEVELS
  CFD
Point of Control :  11930
Value Area High :  11967
Value Area Low :  11877
VWAP :  11930
R2 :  12131
S2 :  11704
Pivot :  11918
High :  11653.0
Low :  11560.0

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