The DAX 30 remains Bullish
The DAX 30 has finally jumped through the 11k barrier to the start of trading on Friday. The bullish activity stems from the hope for a speedy approach to the trade dispute between China and seems to be driving the majority of sentiment on the major indices. According to reprots, the US government is considering lifting import tariffs on Chinese products. Although the US Treasury had denied this statement.
We are currently trading at highest levels of more than six weeks and it’s the first we’ve seen 11k since the beginning of December. Exceeding this key level could give additional encouragement to traders.
11236 and 11395 are longer term targets. These are exposed POCs (points of control).
We have only just trickled over the 11k hurdle, ideally it would be good to see a little more progress there. But if the current price action is not attracting new buyers right now, then a retracement to the 950-975 zone could be interesting. If the retracement goes a little further, then we have 917 and 910 (VAH and POC) from yesterday that can also provide support.
18-01-2019 DAX 30 Daily Chart
18-01-2019 DAX 30 60m Chart
18-01-2019 DAX 30 Volume Profile
18-01-2019 Key Levels
|Point of Control :||10911||6836||24128||3070|
|Value Area High :||10918||6845||24235||3072|
|Value Area Low :||10861||6823||24062||3059|
|Camarilla Breakout (Bull)||11039||6890||24578||3100|
|Camarilla Breakout (Bear)||10875||6821||24095||3063|
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