Despite closing lower yesterday, the DAX 30 could build on the recovery of last Friday.
Another focus is the trade dispute between China and the USA. In Beijing, delegates from both nations discuss the way forward in the conflict over higher tariffs. China’s President Xi sent his highest-ranking negotiator and is hoping for a breakthrough in the customs talks.
08-01-2019 DAX 30 Outlook
10847 is the current 2019 high and we are trading around a zone of interest from mid December. If you recall from December, the price was unable to reclaim the 11,000 handle after closing below that level on the 6th. For the remainder of December, the price continued to trend slowly lower on low volume.
Today, we’re watching the 10680 low from yesterday, to see if that area holds. If it doesn’t hold, then we’re expecting a test of the 600-640 zone. And if that 600-640 area fails to hold then perhaps we could see a move down towards the exposed POC from Wednesday last week at 10433.
Immediate targets to the downside would be the Point of Control and Value Area Low.
08-01-2019 Key Levels
|Point of Control :||10710||6805||23522||3024|
|Value Area High :||10761||6831||23607||3038|
|Value Area Low :||10699||6793||23423||3016|
|Camarilla Breakout (Bull)||10832||6870||23770||3059|
|Camarilla Breakout (Bear)||10648||6765||23338||3011|
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