23-01-2019 Dax Technical Analysis

23-01-2019 Dax Technical Analysis

23-01-2019 Dax Technical Analysis video

The uncertainty over the continuation of the trade war between the US and China has brought further losses to the DAX yesterday. As a result, the index has now lost more than half of its gains from last Friday’s recovery rally. Contradictory news about the planned tariff talks between the US and China are likely to continue depressing the mood of traders. It seems the US have cancelled preparatory talks for next week’s talks. However, US President Donald Trump’s economic adviser Larry Kudlow rejected this. 

23-01-2019 Dax Technical Analysis | Looking Ahead

It’s currently 9:00 and there is disparity between the EuroStoxx and the DAX, with the Stoxx currently at new highs for the day and testing its afternoon highs and the DAX still trading below the high of this morning. I would be expecting that difference to change.

For the moment the DAX is currently showing this series of lower lows and lower highs. Breaking 11011 before 11104 indicates a continuation of the bearish trend and a breaking of 11104 before 11011 indicates a change in behaviour and resumption of the rally we saw on Friday. 

The gap this morning created the initial high of the day, so now we see whether the sellers are still sitting there, ready to take the market back down again.

Yesterday we saw the point of control act as the barrier for buyers. The price turned around there yesterday.

Today we are trading around the new point of control (from yesterday).

Key Levels

  DAX FTSE DOW ESTOXX
Point of Control :  11082 6862 24566 3105
Value Area High :  11111 6932 24645 3119
Value Area Low :  11049 6849 24397 3102
VWAP :  11071 6906 24469 3106
R2 :  11192 7003 24864 3136
S2 :  10933 6778 24023 3072
Pivot :  11062 6891 24443 3104
Camarilla Breakout (Bull) 11106 6924 24646 3115
Camarilla Breakout (Bear) 10963 6800 24183 3080

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