Good morning traders, it’s Thursday the 9th of July and time for today’s 09-07-2020 German DAX 30 analysis.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 find a session high of 12664 and a session low of 12450 giving us a range of 214 points compared to the average daily range of 306. At the close of play last session, the market closed at 12586 which was 706 points above the 200EMA and 650 points above the 50EMA.
DAX 30 Index Outlook
The DAX is currently Neutral.
The German stock market index is currently Neutral with no specific trend. In fact we are pretty much range bound between 12462 and 12839, so we can either look to fade the two extremes assuming the range trading continues, or wait for a breakout above 12839 or below 12462. The issue with a neutral market, is that we can’t really use the DAX trading strategy with much positive expected value (+EV). We have a classical situation on the daily chart whereby the 5EMA is above the 8EMA, the 8EMA is also above the 50EMA and finally the 50EMA is above the 200EMA. That’s often a very bullish market, the first sign of a turn could be when the 5EMA breaks below the 8EMA. However, as you’ll see below, we are currently neutral, so be careful of choppy market conditions.
DAX 30 Levels To Watch
Looking at the key levels to watch today, watch out for the previous session Point of Control (POC) at 12511 and the previous session Volume Weighted Average Price (VWAP) at 12541. The value area high (VAH) is currently 12569 and the value area low (VAL) is currently 12492.
|Stochastic||K: 72 and D: 70|
|Point of Control (POC)||12511|
|Value Area High (VAH)||12569|
|Value Area Low (VAL)||12492|
|The DAX Pivot||12567|
|The DAX R2||12781|
|The DAX S2||12353|
|Daily 5 EMA||12563|
|Daily 8 EMA||12520|
|Daily 50 EMA||11936|
|Daily 200 EMA||11880|
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