Germany30
DAX 4H - Lack of demand at yearly highsSupply and demand Analysis - Published 03.08.2016
We're seeing lack of demand and maybe even liquidity at yearly highs. Each time we build enough demand to reach highs we have sudden and steep declines, which could indicate lack of demand. I expect a small pullback, before heading lower.
However should we take out the yearly high on a fair amount of volume without liquidity drops I would turn around and be very bullish on the market.
SHORT the DAX at 10250 using a pending order.FX:GER30
Short the dax when it reaches the 10250 Highs, profiting on the back on the support level when it drops down again. Only a matter of time when it corrects itself. The stochastic shows alot of choppiness so this bullish wave will come to an end soon.
After a small correction, perhaps a good region to re-enterMarkets in USA are very high (generally all time high). Market usually does not go straight up. I guess a small correction is the matter of time. If there are no bad information, I advice to re-enter long position as shown in the graph.
Enter the market around 9900.
DAX Weekly chart technical analysis.Sentiment: Bullish inside red channel. ( Bullish )
Trend Strength: Moderate
Seems like DAX1.43% could try to touch R1. (see red arrow)
Close above R1 would confirm rise towards R2.
If stays below DAX1.43% will resume correction towards Monthly S1.
Sooner or later DAX1.43% will reach red channel support.
Maybe it will be good long-term buying opportunity.
DAX - Bearish Gartley could unfold on weekly chartRise in FTSE has helped German DAX move back above weekly 200-MA level today.
We could head higher to falling trend line resistance If the current week candle closes above weekly 200-MA and is followed by another closing above weekly 200-MA. Moreover,a rebound from the weekly 200-MA could translate into a rally to 10,846 (point D = potential reversal zone).
On the other hand, a weekly closing below 200-MA would reduce the odds of a Gartley formation and open doors for a drop to 8699 (Feb 2016 low).