[wp_ad_camp_1]

Good morning traders!

We’re approaching the end of the month, the end of the week and the start of a three day weekend, so I wouldn’t be surprised if the market sees little action today.

The most interesting piece I have read is the evidence that China is still seeing a cyclical recovery as profit growth picked up in March. The growth went from -4.7% in Feb to over 11% (year over year) in March and people are pointing to higher prices for Chinese companies and higher volumes. Global metal prices increased further in April and as producer price inflation is highly linked to metal prices, its likely this recovery will continue. The higher profit growth should support Chinese equities and I would like to see this cascade into the other equity markets as well. I also like the underlying QE theme to continue throughout early May. So I still have to remain bullish above 10075.

The Dax is still at an important level right now as we have recently tested previous resistance (10140) and this seemed to create a level of support. If the support holds, like I want it to, then we can continue to build a foundation here and grow further to take out the weekly high. However we are short term bearish and are still trapped inside this bearish trend channel (or bull flag). If we take out 10140 then we open up a move to 10075 and below this; 9900 and then we re-evaluate.


 

DaxTrader Updates

The DaxTrader RSI system trial is coming to an end. Thanks to everyone who has supported in getting the bugs ironed out. Feel free to drop any feedback to me on the website, twitter or email. Please be aware that the new pricing takes effect from the beginning of May £94.99.

The DaxTrader signals delivered a decent trade yesterday. It’s been very difficult to find good buying spots recently.

Whatsapp

 

Dax Support & Resistance

KEY LEVELS
Daily R2 10436
Daily R1 10326
Daily Pivot 10222
Daily S1 10112
Daily S2 10008
200 Day EMA 10183

Dax Charts

01 Dax Daily Chart

01 Dax Daily Chart

02 Dax H4 Chart

02 Dax H4 Chart

04 H1 Dax Chart

04 H1 Dax Chart

03 Dax m30 Chart

03 Dax m30 Chart

04 Dax m5 Chart

04 Dax m5 Chart