Dax Technical Analysis 27/12/2016

On the daily chart we have reached one of the major bull targets 11430 and are currently in a major resistance zone, set by price action from a similar period last year. We have already extended 100% of the range, which was broken this month and at the top of the trend channel with RSI being firmly overbought, so the opportunities to buy at current price would probably appeal to only a handful of investors, normally those who like to scalp.


Dax Technical Analysis 22/12/2016

On the daily chart, I am still concerned about going long right now, because although we have pierced resistance, we are printing candles that could be perceived as exhaustion candles. We are slowing down and this could affect the strong momentum that we have seen. We are over 1000 points higher than we were at the beginning of the month and we have barely seen any correction, so I would like to buy at a better price.


Dax Technical Analysis 21/12/2016

We are bullish above 11150 and short term bullish above 11350. An interesting setup for bears is a short from current position, with a stop above 11475, targeting a move back towards 11425. I doubt I will take that. A pullback to that level, which was the R1 from yesterday (pivot point indicator) could interest me to go long. Bulls will also take encouragement from a break above 11475.