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).
|Point of Control :||11082||6862||24566||3105|
|Value Area High :||11111||6932||24645||3119|
|Value Area Low :||11049||6849||24397||3102|
|Camarilla Breakout (Bull)||11106||6924||24646||3115|
|Camarilla Breakout (Bear)||10963||6800||24183||3080|
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