24-01-2019 Dax Technical Analysis

24-01-2019 Dax


24-01-2019 Dax Technical Analysis

 

A spinning top candle yesterday suggests that perhaps the DAX may have found some ‘balance’ above the 11,000 level. The Tuesday low was not broken yesterday. And neither was the Tuesday high. Price action yesterday open and closed inside Tuesday’s value area, so you might be forgiven for thinking the day was quite dull. 

Looking Ahead

ECB rate decision later today: 12:45 and then the press conference at 13:30

11140 is not only important because it is around the previous highs from the last two days, but it was also a previous point of control. So it’s a ‘magnetic level of resistance’, which is an unusual combination. I’m expecting some difficulty to break that. 

Major near term target to the downside: 10910 (this is an exposed point of control)

  DAX FTSE DOW ESTOXX
Point of Control :  11056 6840 24494 3116
Value Area High :  11089 6875 24566 3120
Value Area Low :  11031 6814 24392 3098
VWAP :  11073 6857 24494 3113
R2 :  11197 6937 24908 3153
S2 :  10954 6764 24119 3075
Pivot :  11075 6850 24514 3114
Camarilla Breakout (Bull) 11139 6892 24751 3135
Camarilla Breakout (Bear) 11005 6797 24317 3092

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