The news wires are still constantly talking about Brexit. I have personally decided to avoid discussing the news in these articles. I’m sure you already know that Brexit has been delayed now, again, until October.

Yesterday the market closed at around 50% of the range of the previous days candle. Price also did find a high near to the open of the previous day’s open. In order for this bounce to gain the mentum we would need to see a break above yesterday is high, but it looks like we are about to test the low of yesterday instead. If we break below yesterday’s low it opens the door to the 700s.

11-04-2019 Dax Technical Analysis 1

Dax Technical Analysis Video

Hourly Dax Technical Analysis

A couple of days ago we were talking about watching for a break below 930. Now that break has happened we have established a new level to watch which is 866. The 866 level is interesting because it is right next to the low volume zone visible on the profile to the left. There is a 70 point low volume zone below this level. I have mentioned before, but I will mention again, that nature abhors a vacuum. Low volume sounds like this are similar to vacuums. Price does not often want to trade in these zones. And there are two ways for the market to avoid trading in them: they either zoom through them quickly, or they bounce away from them. Today we would likely see which one happens first.

11-04-2019 Dax Technical Analysis 2

Dax Profiles

Yesterday we saw price react at the value area high which was also a high volume zone. Price settled eventually just above that much-discussed 930 level. Hopes of this level holding again with dashed this morning during the overnight session price collapsed through the entire value area of yesterday and then found rejection at the valley very high leading to the current daily low just above 866. Price is also trading at the value area low of the composite profile that you can see on the right.

11-04-2019 Dax Technical Analysis 3

Dax Key Levels

11-04-2019 Dax Technical Analysis 4

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