Good morning traders, it’s Thursday the 25th of June and time for today’s 25-06-2020 German DAX 30 analysis. For the second day in a row, the German stock market is breaking support levels.
Bayer and Lufthansa are currently in focus. Bayer because of the allegedly carcinogenic weed killer – glyphosate – in the United States. Bayer has agreed with a large number of the plaintiffs on a billion-dollar settlement. But Bayer has to dig deep into their pockets as up to $ 10.9 billion will be due. Perhaps that will allow the market to properly assess the impact and cost it into the market (if it hasn’t done so already). Lufthansa because of its dropping out of the DAX (along with Wirecard).
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 touch a session high of 12497 and a session low of 12008 giving us a range of 489 points compared to the average daily range of 374. At the close of play last session, the market closed at 12120 which was 304 points above the 200EMA and 461 points above the 50EMA.
DAX 30 Outlook
The DAX is currently Bearish.
The DAX index is currently showing a progressive series of lower lows and lower highs. The trend defining level is currently 12212, so the market remains bearish below that level. In order for the market to remain bearish, we need to take out 11930. I will be looking to use the DAX trading strategy to provide some useful setups today.
DAX 30 Index Key Levels
Looking at the key levels to watch today, watch out for the previous session Point of Control (POC) at 12221 and the previous session Volume Weighted Average Price (VWAP) at 12215. The value area high (VAH) is currently 12343 and the value area low (VAL) is currently 12102.
|Stochastic||K: 35 and D: 53|
|Point of Control (POC)||12221|
|Value Area High (VAH)||12343|
|Value Area Low (VAL)||12102|
|The DAX Pivot||12208|
|The DAX R2||12697|
|The DAX S2||11719|
|Daily 5 EMA||12151|
|Daily 8 EMA||12186|
|Daily 50 EMA||11659|
|Daily 200 EMA||11816|
Plenty to watch out for
My Trading Update
As for my index trading; during the last trading session I took a total of 4 trades (3 DAX trades and 1 FTSE trade). Breaking down my DAX trades, 2 were from the DAX trading strategy (DTI) and 1 was from the regular morning DAX signal. Breaking down my FTSE trade, 0 were from the DAX trading strategy (DTI) and 1 was from the regular morning DAX signal. Overall, I hit 2 winners, 1 loser, and 1 break-even trade. This gave me a total profit of 6% for the day.
To keep a track of the trading results, you can read the dax trading spreadsheet. In order to get access to the signals and to the strategy, you will need to be a member of the site. Find out more about membership.
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