Good morning traders, short and sweet today. I am late to the desk, so here’s the video and the key levels underneath.
Caution: The Video seems to be struggling to buffer today. But the audio is very clear.
13-12-2018 Dax Analysis Video
13-12-2018 Dax Technical Analysis
We have seen a bounce from the major median line and regression channel support, so we are suggesting that we are ready to test some bullish levels.
Looking at the individual swings, the earlier bearish trend-defining level of 948 has broken. Since then, we have formed a recent higher high. So providing the 725 level holds, we have a new ‘bullish’ trend-defining level. All eyes on the 984 high to break.
Intraday I was wondering if we would see a retracement back towards 845 based on an Action Center Reaction line set, see the video for more information on that idea.
As far as bullish targets are concerned, I am looking at the start of the major exposed gap just above 11k and then the first exposed point of control from the 5th December also looks interesting.
13-12-2018 Dax Key Levels
|Point of Control :||10942||6892||24619||3109|
|Value Area High :||10962||6898||24734||3116|
|Value Area Low :||10908||6879||24535||3103|
|Camarilla Breakout (Bull)||11016||6896||24871||3136|
|Camarilla Breakout (Bear)||10843||6812||24341||