11-12-2018 Dax Technical Analysis

11-12-2018 Dax Analysis

Good morning traders, here’s my DAX technical analysis for 11-12-2018. The featured image today is the volume profiles fro the last two weeks (including today). I have arrowed the current exposed POCs which will serve as bullish targets, should be see a substantial recovery from the current bear market. Whilst these levels may not feature today, or even this week, they will be in the back of my mind for future trades.

11-12-2018 Dax Analysis | Daily Chart

The DAX 30 finally printed a positive day yesterday, ending a five consecutive day losing streak. The daily chart (below) clearly shows that the major swings are bearish showing a series of lower lows and lower highs. The most interesting observations on this chart here are the reversal at the 50 EMA (arrowed) and the ‘mini’ bounce at the median line (circled). I call it a mini bounce, because we may not have much momentum to the upside.

The fork is drawn from the three most recent, confirmed, major pivots.


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11-12-2018 Dax Analysis | Hourly Chart

The hourly chart below shows that DAX remains bearish below 10948 (CFD). Once the 10584 low is broken, then as it stands, the new trend defining level becomes 10752. 

 

11-12-2018 Dax Analysis | Key Levels

We’ve started today inside the value area of yesterday, we’ve taken out the Point of Control and found the daily pivot, next step, the Value Area Low (probably).

  DAX FTSE DOW ESTOXX
Point of Control :  10717 6758 24352 3044
Value Area High :  10748 6786 24456 3050
Value Area Low :  10682 6738 24143 3033
VWAP :  10692 6766 24230 3037
R2 :  10863 6874 24890 3082
S2 :  10514 6662 23659 2988
Pivot :  10688 6768 24274 3035
Camarilla Breakout (Bull) 10817 6829 24764 3068
Camarilla Breakout (Bear) 10625 6712 24087 3017