15-01-2019 DAX 30 Technical Analysis

15-01-2019 DAX 30

DAX 30 Daily Chart

The swings are still bearish on the daily chart and the recent bullish price action is seen as a simple reaction leg from the lows (a retracement bounce).

Right now the 11,000 is stubborn resistance and if we continue to fail here then it’s likely that the trend to the downside will resume.

If 11,000 is taken out, then the gap close around 11,090-11175 will be the obvious target. 

DAX 30 Hourly Chart

The bullish reaction leg is more visible here, but we can see that it is slowing down into a range.

We only just spiked to a new high (today), so the higher highs and lower lows are tenuous at best.

A range trading strategy may be the best option until a clear break is found.

DAX 30 Intraday Chart

There was an interesting fork yesterday (explained in the video) and today there is a new fork to watch.

The Value Area High, Point of Control and Value Area Low are target areas if price moves to the downside.

If price bounces higher again, then look for a return to the fork median line.

DAX 30 Targets

Key Levels

  DAX FTSE DOW ESTOXX
Point of Control :  10832 6850 23890 3054
Value Area High :  10865 6871 23963 3060
Value Area Low :  10810 6847 23808 3047
VWAP :  10842 6864 23859 3051
R2 :  10955 6918 24108 3080
S2 :  10752 6811 23634 3026
Pivot :  10853 6865 23871 3053
Camarilla Breakout (Bull) 10932 6887 24047 3073
Camarilla Breakout (Bear) 10820 6828 23786 3044

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