Good morning traders!
Relatively short post today because I am unlikely going to trade. I am still waiting for confirmation on whether Greece are going to pay IMF or not, which should be tomorrow. I personally can not see where they are getting the money from and it’s going to be a serious problem is they go into silent default.
I am not quite ready to change my bias to bearish, but I would not be averse to capitalising on a drop based on our over-extended price.
So I will be sitting out and watching today
Dax Support & Resistance
| KEY LEVELS | Difference | |
| Daily R2 | 12234 | 158 |
| Daily R1 | 12155 | 128 |
| Value High | 12119 | 118 |
| 24hr VWAP | 12102 | 124 |
| Naked VPOC | 12079 | 94 |
| Daily Pivot | 12066 | 89 |
| Value Low | 12062 | 100 |
| 34 Hour EMA | 12062 | 77 |
| Daily S1 | 11987 | 59 |
| Daily S2 | 11898 | 20 |
| 200 Day EMA | 10310 | 21 |
Dax Daily Chart Analysis
We are still making good progress towards the top of the range here, plenty of resistance overhead. Tomorrow could prove significant to provide the catalyst to break us out one way or another.
2Dax Daily Chart
Dax Intra-day Analysis
I have added another couple of support zones
3Dax Intra-day Chart (4 hour)
30 minute Chart
Still trapped in the range, hovering around the weekly R1. The 34 hour EMA is beginning to climb.
4Dax Intra-day Chart (30 minute)
5-minute chart
We are bouncing between the daily pivot and daily R1 today and on the bigger picture there is a triangle forming. A break above R1 could take us towards R2 and a break below the blue line could take us to S1
5Dax Intra-day Chart (5 minute)
Volume Profile
The gap open from yesterday is still safe, but a break into that zone could see a sharp sell off. YVAL is holding nicely at the moment. VWAP is flat and we are currently consolidating inside the lower volume area from yesterday.
6Dax Volume Profile Chart (5 minute)
