17-01-2019 DAX 30 Technical Analysis

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