German DAX30 Summary – Technical Analysis
Morning traders and welcome to the German DAX30 Summary. Strong bullish day yesterday, we actually had a bullish outside bar form on the daily chart, which we don’t see all too often. This bars can often form as part of a pivot component. So if we were about to reverse the trend from bearish to bullish, perhaps that will be significant. We will note that one.
The POC for yesterday seems to be an interesting spot to watch for a pullback today. Notice as well how we have taken out the exposed VPOC from last week? Let’s see if it’s the same for EuroStoxx.
We are running with the bullish idea today. On the 20 minute chart, you can draw a fork from three recent pivots (6/7/9 Feb swings) and you will see that price has bounced from the Lower Median Line Parallel and then taken out the previous high from the first Median Line touch. So for me, I’d like to buy from a pullback to target the major trend defining zone between 12575-12650.
15-02-2018 German DAX30 Summary – Key Levels
| KEY LEVELS | |
| POC * | 12277 |
| Value Area High * | 12394 |
| Value Area Low * | 12199 |
| 14 Day ATR | 292.08 |
| 200 EMA | 12659 |
| 50 EMA | 12936 |
| Daily R2 | 12682 |
| Daily R1 | 12548 |
| Daily Pivot | 12309 |
| Daily S1 | 12176 |
| Daily S2 | 11936 |
| *These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices | |
FTSE Technical Analysis
In addition to the German DAX30 Summary, let’s take a look at the FTSE. Right now the FTSE is currently at the top of an Expanding Pivot formation and also trading just under a Median Line, so as Alan H. Andrews’ work says: prices will either reverse on meeting the ML or gap through it. We are watching for a reaction here.
Similar outside bar on the FTSE as well (yesterday), so if we gap through the previous median line, then I would be looking for the possible rise towards the major median line on the Daily chart. That opens up a swing position to the upside.
FTSE Key Levels
| KEY LEVELS | |
| POC * | 7213 |
| Value Area High * | 7235 |
| Value Area Low * | 7204 |
| 14 Day ATR | 125.62 |
| 200 EMA | 7411 |
| 50 EMA | 7477 |
| Daily R2 | 7331 |
| Daily R1 | 7293 |
| Daily Pivot | 7217 |
| Daily S1 | 7179 |
| Daily S2 | 7103 |
| *These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices | |
EUROSTOXX50 Technical Analysis
The EuroStoxx50 has not taken out the previous Point of COntrol (as it had on the DAX) so we have divergence. This does not necessarily mean anything on its own, but it allows for a speculative long to assume that it follows the path of the DAX30.
I would like to see a retracement back to the POC from yesterday to target a long.
EuroStoxx50 Key Levels
| KEY LEVELS | |
| POC * | 3359 |
| Value Area High * | 3390 |
| Value Area Low * | 3354 |
| 14 Day ATR | 70.76 |
| 200 EMA | 3508 |
| 50 EMA | 3537 |
| Daily R2 | 3448 |
| Daily R1 | 3417 |
| Daily Pivot | 3365 |
| Daily S1 | 3335 |
| Daily S2 | 3282 |
| *These are FXCM numbers, not futures numbers. Please be aware that FXCM can often be 5-10 points higher than futures prices | |
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