The index is trading on a 4H Channel Up (RSI = 69.786, MACD = 72.000, Highs/Lows = 56.2642) that has crossed into the overbought zone (STOCH = 95.784, STOCHRSI = 79.387, Williams = -3.343). Since the price is too close to the 11,570 1W Resistance, we will take this opportunity to go short and target the first Support on 1D = 11,300. This is where the 1D Channel Up...
My previous Dax analysis from 2 months ago: My Dax bear market short trade is still running since earlier this year and today i will take some profits now. We have (almost) reached the target of that H&S already and i am not going to risk 2200 points to get that last 100 points for the 10.500 target. The 10.500 H&S target is the most conservative i can see, so...
The index has been trading within a strong recovery Channel Up on 1D (RSI = 59.688, MACD = 74.500, Highs/Lows = 85.2929, BB/P = 251.0418) since the December bottom. Although the technical target is the 11,550 Resistance and potential Higher High, since the upside is clearly slowing down on a Rising Wedge, it is best to but and settle for a lower TP at...
The index managed to maintain the bullish break out above 11,390 and the new 4H Channel Up to stay above the Higher Low limit. As long as the symmetry holds, the short term target should be around the 0.618 Fibonacci extension, before it consolidates the potential overbought status. Our targets are intact: 12,000 & 12,100 in extension. ** If you like our free...
The 11,050 1M support was defended and the 4H Channel Down broke to the upside. A price above the 0.500 Fibonacci mark (11,750) is needed to restore the medium term 1D bullish bias to the index (CCI = 24.4993, Highs/Lows = 0.0000, B/BP = 36.1820 already). We remain long with TP = 12,000 & 12,100 in extension.
DAX has nearly met the support of the very long term 1M Channel Up (MACD = 230.800, RSI = 44.082) and has most likely made its Higher Low. If that doesn't break, then the index should aim for 14,400 within the next 18 - 24 months. Our TP for the short/ medium term remains 12,000 & 12,100 in extension.
The index remains within the very long term 1W Channel Down (RSI = 37.940, MACD = -255.000, Highs/Lows = -398.7857, B/BP = -982.1060) but held the 1M support zone of 11,200 - 11,400 and we can assume that a last week's sideways trade is an attempt to price a support base on the long term in order to continue the 1M Channel Up. 1D is expected to start printing...
The 1W Channel Down (RSI = 36.444, MACD = -236.700, Highs/Lows = -537.4643, B/BP = -1239.0620) eventually broke the 11,725.30 support and led DAX near its Monthly support zone of 11,200 - 11,400. Those levels are also a potential Higher Low array on the long term 1M (monthly) Channel Up (RSI = 45.274, MACD = 241.600) that started in March 2009. A moderate medium...
A very aggressive 4H Channel Down (oversold RSI = 24.435, Highs/Lows = -199.7643, MACD = -93.500) invalidated the previous attempt to break the 1D Falling Wedge (black dotted lines). DAX should now attempt a test either on the 1D (RSI = 33.688, B/BP = -380.9120) or the 1W (RSI = 40.497) support. The 1D Falling Wedge will be on a Lower Low there and the 1W remains...
TP = 12,420 hit as 4H made a Double Top at 12,460 before pulling back to form a Higher Low on the 1D Channel Up (RSI @ 52.206, Highs/Lows @ 11.8571) at 11,195. We are again long aiming again at 12,420. If the 12,460 Double Top breaks (12,480 the tolerance level) then we will re-buy with TP = 12,590 and 12,760 in extension (for the extension the SL will be moved on...
TP = 12,207 hit as the 4H Channel Up (RSI = 69.388, Highs/Lows = 10.3357) aggressively broke to a new Higher High at 12,460 with 1D making at the same time a Lower High on its Channel Down (RSI = 55.850, MACD = -12.700). Since we consider this month's 11,880 bottom the completion of the 1W H&S pattern, we expect DAX to break even higher. However given the fact...
DAX has rebounded strongly after hitting the upper layer of the 11,725 - 11,880 1W Support zone and since the long term 1W Head and Shoulders pattern was completed (or at least is near the completion (but less likely) assuming it has one more leg down to 11,725), the index should now resume the commanding bullish long term monthly trend. It already broke the...
TP = 12,100 hit as the 1D Channel Down (RSI = 31.146, MACD = -146.100, Highs/Lows = -253.3571, B/BP = -407.1202) made a 11,882.0 Lower Low. This was very close to our final 11,877 target so that short has been closed manually. We are now expecting confirmation to short further, which will be validated if the March 26th low = 11,706.5 breaks (in which case TP will...
TP = 12,550 hit as the 1D Channel Down (RSI = 42.259, MACD = -17.900, Highs/Lows = -20.1645, B/BP = -179.2980) made a near 12,600 Lower High. The index has now resumed the downtrend and should attempt at least another 12,100 1D support test. Our initial target is 12,130 and if 12,100 is crossed we will continue with a TP = 11,877 with the SL on profit to ensure...
TP = 12,500 hit as the 4H Channel Up (Highs/Lows = 40.1429, MACD = 32.900) continued rising following the 1D Double Bottom two weeks ago. 1D is now on Lower High territory (RSI = 49.327) and we are looking to extend our buying strategy towards the potential Lower High of the 1W Channel Down, which should be around 12,620. Our extension TP remains 12,550 and we...
TP = 12,355 hit as the 12,080 1D support was kept intact and DAX made a Lower Low on its Channel Down (RSI = 46.830, Highs/Lows = 0.000). Currently the price is even above our maximum expectation of 12,400, so attention is required as we approach 12,510. Since the 12,080 support was respected, at least on the short term, the index should technically approach...
DAX is about to complete a very long term Head and Shoulders pattern on the Monthly chart, thus the neutral RSI = 51.621, ADX = 29.826. 1D is a Channel Down formation (RSI = 34.363, MACD = -73.300, Highs/Lows = -357.2500, B/BP = -455.2462), which if the 12,080 support from the previous Lower Low breaks, will hit 11,900. If it is rejected, then it will rebound to...
The 12,509.40 TP has been hit twice since the last update but the 12,355.82 extension is so far unapproachable. The sideways trading on 1D (RSI = 48.770, CCI = -38.0362 and High Volatility on ATR = 167.4286) has since created a Triangle that is however near its exhaustion point. As a result we will be looking to scalp this narrowing range and short at 12,740 (TP...