2016



tv-15m-dax-chart
As expected, volume was very low yesterday and although we did make subtle progress, but there was not a lot to report on. We are still technically in the same position as the article from yesterday: we are overbought and awaiting a pullback/correction. Let's look at a few scenarios:

Dax Technical Analysis 27/12/2016


03-h1-dax-chart
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 27/12/2016




02-dax-h4-chart
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 22/12/2016


01-dax-daily-chart
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.

Dax Technical Analysis 21/12/2016



03-h1-dax-chart
On the H1 chart, we can still see the horizontal range lines from November (the range between 10570-10800), what is interesting at the moment is that a Fibonacci retracement from the December low to the December high puts the 61.8% retracement on the previous 10800 resistance. This would provide an excellent technical confluence, should price correct from current levels down to those levels, because it would allow us to buy down there with a fairly high probability that the support would hold. But let's be honest, the Dax doesn't often care about pretty patterns on a chart.

Dax Technical Analysis 19/12/2016


Short-term we are bullish above 10335 and need to take out 10400 to continue the trend. We are still consolidating on the smaller time frames, 10360 seems to have held price so far. At the time of writing we put in a tweezer formation on the 5m chart and this could be seen as a buying signal. The problem is, as I mentioned earlier, that we are already so high, it's difficult to find demand here.

Dax Technical Analysis 16/12/2016


01-dax-daily-chart
We are in a similar position to yesterday in that the market is still Bullish, and in contrast to the negative divergences that the MACD and RSI that we can see on the hour chart, the calculated price target of around 11,400 points is more and more on the cards. Beyond this level, the high of August 2015 is the next barrier at 11,670. Look out for the Dow Jones®, which nears 20,000 points for the first time.

Dax Technical Analysis 15/12/2016



03-h1-dax-chart
On the four hour chart, we have moved away from the upper Bollinger band and the trajectory of the rally has softened. We are still in the top half of the Bollinger channel and above the median line, and the oscillator is still overboard and has been for over a week.On the one hour chart, the slowdown is more obvious and we can see clear bearish divergence. So from current levels, there is an opportunity to go short with a stop above the recent high. I am just aware that the move may not be over yet and I may find a better price nearer to 11 430.

Dax Technical Analysis 14/12/2016