17-01-2019 DAX 30 Technical Analysis

17-01-2019 DAX 30

Good morning traders. The mood on the German DAX seems to have eased slightly today. We’ve gapped lower and continued with momentum to the downside breaking below our compression pattern (visible on the 60m or 10m charts below)

The clear rejection of the Brexit deal by the British Parliament did not disturb price action much yesterday as we closed higher but the 11k remains a massive hurdle. Yesterday evening, the British parliament backed British Prime Minister Theresa May, again, passing the vote of no confidence.

On the corporate side, Deutsche Bank is increasingly the focus of investors. The potential merger with Commerzbank drives the share price of the DAX company. On Thursday Beiersdorf and the Metro publish first sales figures. And on Wall Street, the earnings season is picking up on numbers from Morgan Stanley, Netflix and American Express. 

Key Levels

  DAX FTSE DOW ESTOXX
Point of Control :  10916 6861 24217 3385
Value Area High :  10943 6871 24289 3390
Value Area Low :  10901 6850 24099 3380
VWAP :  10914 6868 24154 3384
R2 :  10996 6942 24452 3415
S2 :  10835 6804 23847 3355
Pivot :  10916 6873 24150 3385
Camarilla Breakout (Bull) 10971 6898 24332 3401
Camarilla Breakout (Bear) 10883 6822 23999 3368

Daily Chart

Hourly Chart

10-minute Chart

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