It’s still the main story at the moment.
The Brexit agreement between Britain’s Prime Minister Theresa May and the EU was clearly rejected by the British parliament. (To be honest, this has been well telegraphed and we were prepared).
432 to 202 votes in London on Tuesday evening against the Brexit deal. The power struggle between the government and parliament over the Brexit deal is likely to intensify even further. Britain wants to leave the European Union on 29 March.
If there is no agreement until then, there is a threat of withdrawal from the international community without an agreement. In this case, chaotic consequences for the economy are expected. May has to face a vote of no confidence this Wednesday. President Mario Draghi , who spoke to the European Parliament last week expects an economic slowdown but does not expect a recession.
Economic Calendar Today
16-01-2019 DAX 30 Analysis
I will be running a live session from 8am this morning. More details can be found on the telegram channel.
The DAX gaps higher this morning, only 50 points or so below the 11k handle.
We’ve opened above the value area from yesterday so I am considering a few scenarios
1. Rejection around the highs of yesterday, just under the 11k.
2. Retracement back to the point of control or value area low from yesterday
3. Expansion through 11k
4. Simple gap close, finding support on the value area high
|Point of Control :||10896||6874||24053||3059|
|Value Area High :||10917||6909||24064||3077|
|Value Area Low :||10862||6859||23955||3055|
|Camarilla Breakout (Bull)||11007||6938||24205||3101|
|Camarilla Breakout (Bear)||10820||6835||23937||3051|
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