14-12-2018 DAX Technical Analysis

14-12-2018 Dax Analysis

Good morning traders, here are my observations so far:

According to the short-term swings, the DAX remains bullish above 10725. Breaking below this level will confirm the start of a new trend.

However, European markets were in the red shortly after the opening bell as traders digested the announcement from the European Central Bank that it will terminate its asset purchasing program.

When easy monetary policy ends, you usually get a taper tantrum. Therefore this trend defining level is under pressure.

The DAX is currently trading around 1077x and we are already 120 points lower than yesterday’s close.

The average daily range for the DAX is approximately 170 points.

We’ve recently seen resistance become support around the 10730-10750 zone. Previous demand could also be seen around the 10675-10690 zone which may prove to be a popular profit target and support again.

 We are nearly 100 points below the trading range from yesterday so will unlikely be using any of the volume related data, unless we see a significant bounce from current levels. 

14-12-2018 Dax Analysis || Key Levels

  DAX FTSE DOW ESTOXX
Point of Control :  10914 6879 24587 3111
Value Area High :  10945 6890 24636 3119
Value Area Low :  10894 6863 24530 3104
VWAP :  10928 6875 24587 3114
R2 :  11025 6935 24860 3140
S2 :  10822 6804 24321 3083
Pivot :  10924 6869 24590 3111
Camarilla Breakout (Bull) 10960 6884 24708 3121
Camarilla Breakout (Bear) 10849 6812 24411 3090

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