Good morning traders, it’s Friday the 12th of June and time for today’s German DAX 30 analysis 12-06-2020. We bring you daily dax analysis to help keep you informed.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 hit a session high of 12495 and a session low of 11756 giving us a range of 739 points compared to the average daily range of 319. At the close of play last session, the market closed at 11796 which was 18 points above the 200EMA and 380 points above the 50EMA.
So after the Fed meeting, markets have reacted and most equity markets are correcting, as you would expect from such a strong rally. The selling was heavy in the recovering sectors such as airlines, hotels, energy and banks and intensified over the full day. The main question will be whether this is just a correction, or the resumption of a bearish trend. When you see news like the UK economy shrinking by 25%, you could be forgiven for thinking it is the latter. In other news, keep a look out for the ECB TLTRO repayment data ahead of next week’s TLTRO allotment.
What Is The DAX 30 Doing Today?
The DAX is currently Bearish.
The German stock market index is currently showing a progressive series of lower lows and lower highs. The trend defining level is currently 12307, so the market remains bearish below that level. In order for the market to remain bearish, we need to take out 11756. I will be looking to use the DAX trading strategies to provide some useful setups today.
So after the steep fall back below 12,000 points, i’m probably expecting further losses today – but perhaps not as drastically as yesterday.
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DAX 30 ANALYSIS 12-06-2020 – Key Levels
Moving over to the key levels to watch today, watch out for the previous session Point of Control (POC) at 12183 and the previous session Volume Weighted Average Price (VWAP) at 12085. The value area high (VAH) is currently 12381 and the value area low (VAL) is currently 11929.
DAX 30 ANALYSIS 12-06-2020 – Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 59 |
| Stochastic | K: 27 and D: 38 |
| MACD OSMA | -27 |
| Point of Control (POC) | 12183 |
| Value Area High (VAH) | 12381 |
| Value Area Low (VAL) | 11929 |
| The DAX Pivot | 12016 |
| The DAX R2 | 12755 |
| The DAX S2 | 11277 |
| Daily 5 EMA | 12203 |
| Daily 8 EMA | 12219 |
| Daily 50 EMA | 11416 |
| Daily 200 EMA | 11778 |
My Trading Update
As for my index trading; during the last trading session I took a total of 7 trades, so it was an interesting session with plenty of trading opportunities (4 DAX trades and 3 FTSE trades). Breaking down my DAX trades, 2 were from the DAX trading strategy (DTI) and 2 were from the regular morning DAX signal. Breaking down my FTSE trades, 1 was from the DAX trading strategy (DTI) and 2 were from the regular morning DAX signal. Overall, I hit 2 winners, 4 losers, and 1 break-even trade. This gave me a total profit of 2% for the day.
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