Support & Resistance
KEY LEVELS | Difference | |
Daily R2 | 9970 | -55 |
Value High | 9858 | 0 |
Daily R1 | 9821 | -102 |
Naked VPOC | 9818 | -14 |
24hr VWAP | 9753 | 37 |
Daily Pivot | 9710 | -46 |
34 Hour EMA | 9705 | 24 |
Value Low | 9681 | 28 |
Daily S1 | 9561 | -93 |
200 Day EMA | 9483 | 0 |
Daily S2 | 9450 | -37 |
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Dax Charts
Dax Daily Chart |
Dax Intra-Day Chart |
Dax Volume Profile Chart |
Dax Signals (Moving Average) |
Dax Analysis
The daily chart from Friday shows one of the largest volume days of the decade, suggesting massive orders being placed and a potentially large move is on the way. You might also consider the current daily chart, zooming out to show the last 6 months, to be showing an inverse head and shoulder pattern using the August, October, December lows and the 9850-9900 zone as the neckline. Put all this together with being above the 200 EMA, being at the bottom of the rising trend channel and being in a seasonally bullish month, you might argue we are set for a surge. The other side of the argument of course is that we are testing the underside of the 2012 channel, coming up to the key 10000 resistance level which could look like a triple top (similar to the 2007 slide), still experiencing falling oil prices, geo-political tensions in Paris and sell signals on the indicators. There is conflict between the the bulls and bears.
Intra-day on the 30 minute chart, the afternoon and last few hours of the day provided much of the trading volume with 9850 proving stubborn resistance and being rejected with a sharp sell off crashing through the 34-period hourly EMA and climbing back up to test the underside, which now offers a potential short setup. Zooming out, there is a wedge/triangle pattern forming since the beginning of December, compression or consolidation?
The volume profile chart is showing a double top at 9858 from Thursday and Friday and showing symmetry between the days with 9700 appearing as an important level on both sides. Another potential short setup, there is a sell signal open on the chart too. The naked vpoc is up at 9818 which I would love to see, but the 9700 proved stubborn on Friday so will be difficult to take out.
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Potential Dax Trade Setups
Sell a break down below 9640
Buy a break above 9715
Free Trading Signals (Screenshot)
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