Good morning traders, it’s Thursday the 20th of February and time for today’s German DAX 30 analysis. Dax signals subdued due to the lack of momentum although record high remains in sight. Fresenius plans to increase sales and profits in 2020 – dividend to be increased. GfK consumer climate index: Sentiment among German consumers has deteriorated slightly. MTU exceeds profit target 2019 and wants to raise dividend significantly – pre-exchange share in the red. The majority of Asian stock exchanges grow thanks to interest rate cuts in China and fewer viral infections.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 touch a session high of 13778 and a session low of 13700 giving us a range of just 78 points. When you compare that to the average daily range of 137, you can see we were 59 points below the average telling us we have a slow session which is better suited to range trading. Unfortunately for us, as we’ve said many times before, range trading is not great for our DAX trading strategy. On the whole, after considering the previous day’s price action, it’s clear to see we had a neutral session that ended up 34 points higher on the day.
What Is The DAX 30 Doing Today?
The DAX30 index is currently Bullish, but only just. The trend defining level is currently 13646, so the market remains bullish above that level. We broke to a new high this morning, barely, which is the only reason the market remains Bullish as opposed to Neutral. In order for the market to remain Bullish, we need to take out 13818. I will again be looking to use the DAX trading strategy to provide some useful setups today. If you would like to learn how to trade the DAX, come and learn more about it.
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DAX Index Key Levels
As for the key levels to watch today, watch out for the previous session Point of Control (POC) at 13767. Today’s initial balance is between 13639 and 13718, so watch for a momentum break of either of those two levels. The value area high is currently 13777 and the value area low is currently 13736.Here are some more levels to watch out for:
- The 5 EMA (Daily): 13728
- The 8 EMA (Daily): 13511
- The 50 EMA (Daily): 13860
- The 200 EMA (Daily): 13753
- The Daily Pivot: 13747
- The Daily R2: 13825
- The Daily S2: 13669
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