Good morning traders, it’s Friday the 14th of February and time for today’s German DAX 30 analysis. Excuse the delay, it’s valentines day today, so other matters took priority.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 get to a session high of 13753 and a session low of 13567 giving us a range of 186 points. That low yesterday crashed through the trend-defining level that I mentioned in yesterday’s article, before recovering quickly. This kind of market reaction can often tell its own story of the market rejecting lower prices. So if that’s the case and the market is rejecting lower pricing, then i’d like to see us break the overnight high and confirm the resumption of the Bullish trend.
Yesterday’s range of 186 is almost the same as the average daily range of 179. Generally speaking, after considering the previous day’s price action, it’s clear we had a neutral session that ended up 8 points higher on the day
The DAX 30 Index index is currently Bullish, showing a progressive series of higher highs and higher lows. The trend defining level is currently 13567, so the market remains bullish above that level. In order for the market to remain bullish, we need to take out 13567. I will again be looking to use the DAX trading strategy to provide some useful setups today.
DAX Key Levels
Looking at the key levels to watch today, watch out for the previous session Point of Control (POC) at 13688. Today’s initial balance is between 13639 and 13718, so watch for a momentum break of either of those two levels. The value area high is currently 13745 and the value area low is currently 13667.
Here are some more levels to watch out for:
- The 5 EMA (Daily): 13668
- The 8 EMA (Daily): 13511
- The 50 EMA (Daily): 13810
- The 200 EMA (Daily): 13741
- The Daily Pivot: 13681
- The Daily R2: 13867
- The Daily S2: 13496
The DAX trading strategy produced plenty trading signals of which quite a few worked out well. Remember, you can get a copy of the DAX trading strategy for yourself. All you need to do is get Sierra Chart installed on your machine. If you need a reminder of how to do that, visit the dax trading strategy page.
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart.