Dax Support & Resistance 09/01/2015
| KEY LEVELS | Difference | |
| Daily R2 | 10025 | 329 |
| Daily R1 | 9923 | 281 |
| Value High | 9858 | 256 |
| Naked VPOC | 9832 | 247 |
| Daily Pivot | 9756 | 206 |
| 24hr VWAP | 9716 | 168 |
| 34 Hour EMA | 9681 | 110 |
| Daily S1 | 9654 | 158 |
| Value Low | 9653 | 129 |
| Daily S2 | 9487 | 83 |
| 200 Day EMA | 9483 | 8 |
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Dax Charts 09/01/2015
Dax Daily Chart |
Dax Intra-day Chart |
 Dax Daily |
 Dax Intra-day |
Dax Volume Profile Chart |
Dax Signals |
 Dax Volume Profile |
 Dax Signals |
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Dax Analysis 09/01/2015
Strong bullish day yesterday and perhaps room for further movement with NFP on the docket later today.
On the daily chart we had much stronger push higher but with a lower volume day than Wednesday, suggesting bears have lost their control temporarily and price is now comfortably holding well above the 200 EMA and now back inside the rising channel dating back to 16th October. We have burst back through the kumo cloud and look set to test the 9932 level again, where price stalled over the sluggish Christmas period.
Intra-day there can be no arguement that we are Bullish. Higher highs and higher lows, price above the 34-period hourly EMA and pointing upwards. We have broken through the pivot level on the weekly pivot point indicator after having broken and settling below the weekly S2 earlier this week.
The volume profile appears to have more than one distribution with a large gap in the middle caused by the mid-afternoon (GMT) surge which leaves a potentially weakened floor for price to fall through before finding stronger support and building higher once more. Evening trading was trapped in a 40 point range and pulled the VPOC up to a familiar figure 9832.
Bulls
January is a strong month for markets seasonally and with a disappointing EU inflation headline figure, speculators are once more strengthening their belief for a US-style QE program to begin as early as this month, cue 22nd January. If we take out the value area high from yesterday at 9858 then we can go on to the daily R1 at 9925 before moving on to testing the Christmas highs. Beyond this, we have 10k to contend with again. We may be able to enter in to a trade from lower levels, based on the volume profile analysis.
Bears
All good things come to an end at some point, bull markets are no different. There is certainly room below down to 9700, beyond this may be difficult to break through, but taking out 9650 will open doors to retesting the weekly S2 at 9542. NFP will likely provide some volatility but a crash is unlikely at the moment. Price action is currently not in favour of the bearish bias, so trade with caution.
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Free Trading Signals 09/01/2015
From last night
Free Trading Signals
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