Will a break at 13,300 push the DAX30 CFD up to all-time highs?
After bullish performance over the last week of trading, there seems to be a higher chance of a slow start into the new week.
Due to the “Veterans Day” bank holiday in the US, the US Fixed Income Markets will not be open for regular trading hours, indicating that trading volume will be lower than on average. That’s noteworthy because of the fact that yields have been a principal driver of price action in the last days, and with no impulses to be expected from this end, volatility should stay low.
From a technical perspective, the picture in the DAX30 CFD on H1 stays bullish and the Long sequence stays intact as long as the German index trades above 13,100 points. Only a break lower would darken the technical picture from a short-term perspective, activating the region around 12,970/13,000 points as a first target.
On the upside, the region around 13,300 points stays in focus: a break higher could initiate a Short-squeeze to around 13,500 points in the days to come. One main driver here could be the small expiration in DAX options next Friday. Data from EUREX shows an elevated Open Interest of Short Calls around 13,300 points and then around 13,500 points, meaning that a break above 13,300 could trigger a wave of market participants being in a need to hedge their Short exposure by buying the DAX.
Ready to start trading the live markets? Then open a free account with Admiral Markets - 8,000+ instruments to choose from, some of the market's tightest typical spreads, and the world's #1 multi-asset trading platform. admiralmarkets.com/start-trading/
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Due to the “Veterans Day” bank holiday in the US, the US Fixed Income Markets will not be open for regular trading hours, indicating that trading volume will be lower than on average. That’s noteworthy because of the fact that yields have been a principal driver of price action in the last days, and with no impulses to be expected from this end, volatility should stay low.
From a technical perspective, the picture in the DAX30 CFD on H1 stays bullish and the Long sequence stays intact as long as the German index trades above 13,100 points. Only a break lower would darken the technical picture from a short-term perspective, activating the region around 12,970/13,000 points as a first target.
On the upside, the region around 13,300 points stays in focus: a break higher could initiate a Short-squeeze to around 13,500 points in the days to come. One main driver here could be the small expiration in DAX options next Friday. Data from EUREX shows an elevated Open Interest of Short Calls around 13,300 points and then around 13,500 points, meaning that a break above 13,300 could trigger a wave of market participants being in a need to hedge their Short exposure by buying the DAX.
Ready to start trading the live markets? Then open a free account with Admiral Markets - 8,000+ instruments to choose from, some of the market's tightest typical spreads, and the world's #1 multi-asset trading platform. admiralmarkets.com/start-trading/
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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