Good morning traders, it’s Friday the 29th of May and time for today’s German DAX 30 analysis. There are plenty of things on the agenda today. Watch for developments in the situation between the US and China over Hong Kong. Trump will hold a press conference about sanctions against Chinese officials who are dealing with Hong Kong which could include threatening the same trade rules to Hong Kong as mainland China.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 hit a session high of 11837 and a session low of 11655 giving us a range of 182 points compared to the average daily range of 258. At the close of play yesterday, we closed at 11672 which was 846 points above the 200EMA and 846 points above the 50EMA.
Important DAX Levels
Looking at the key levels to watch today, watch out for the previous session Point of Control (POC) at 11729. Today’s initial balance is between 11589 and 11678, so watch for a momentum break of either of those two levels. The value area high is currently 11789 and the value area low is currently 11712.Here are some more levels to watch out for:
- The 5 EMA (Daily): 11546
- The 8 EMA (Daily): 11426
- The 50 EMA (Daily): 10826
- The 200 EMA (Daily): 10826
DAX Technical Indicators
|Stochastic||K: 81 and D: 90|
|Point of Control (POC)||11729|
|Value Area High (VAH)||11789|
|Value Area Low (VAL)||11712|
|The DAX Pivot||11721|
|The DAX R2||11903|
|The DAX S2||11540|
DAX Trading Strategy
Remember, you can get a copy of the DAX trading strategy for yourself. All you need to do is get Sierra Chart installed on your machine. If you need a reminder of how to do that, visit the dax trading strategy page.
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart.