[special_heading title=”24-05-2018 Dax Analysis” subtitle=”DAX30, FDAX, FDXM, GER30, DAX” heading=”h2″ centered=”true” _fw_coder=”aggressive” __fw_editor_shortcodes_id=”3ea268737e3977c91ff4bf6fc071cb34″][/special_heading]
- Dax30 is bullish above 12915,
- The gap from this morning is still open (at the time of writing)
- Price action is currently hovering dangerously close to that trend defining low, and if we break it, the trend will be over
- The POI for the move down yesterday was in the 13122-13146 area – we expect a visit to that area
- The downsloping black line connects the start and end of the sine wave – it may provide additional resistance
- Once the gap closes, we run straight into that line
- We are forming a double bottom, just above a major swing low (support)
- We have gapped below a LMLH (on the grey fork)
[special_heading title=”24-05-2018 FTSE Analysis” subtitle=”FTSE, UK100, Z1, LIFFE, FTSE100″ heading=”h2″ centered=”true” _fw_coder=”aggressive” __fw_editor_shortcodes_id=”3ea268737e3977c91ff4bf6fc071cb34″][/special_heading]
- Strong bullish trend remains intact, for now
- The market is technically bullish above 7754
- The start of yesterday’s gap (around 7778) is currently providing support – the gap has closed
- The first red arrow points to an interesting ‘outside bar’ – this began the fast move through support at 7854, effectively breaking the minor bullish trend that was in place beforehand.
- That 7854 level did not get a revisit, but will likely provide resistance if it does
- We are currently forming an outside bar on the recent candle, at the time of writing. If the candle completes, it may be an interesting sell signal
[special_heading title=”24-05-2018 DOW Analysis” subtitle=”US30, DOW30, DJI, DOW JONES, DJIA, YM” heading=”h2″ centered=”true” _fw_coder=”aggressive” __fw_editor_shortcodes_id=”3ea268737e3977c91ff4bf6fc071cb34″][/special_heading]
- Ugly price action formation with no clear technical trend
- 24625-24650 is a strong level of support at the moment
- We are highlighting the 24734 – 24761 zone as an area of interest because price has zoomed that zone in both directions
- 24881 is interesting because looking left, it was the top of a gap which has then acted as both support and resistance, with price gapping through that level at the beginning of the week
- The minor trend is bullish above 24750, if we isolate the most recent price action over the last couple of days
