DAX 30: Technical outlook and review.
Weekly Timeframe: The weekly timeframe shows that relatively aggressive selling has seen the DAX decline in value down towards a weekly decision-point demand area visible at 9126-9467, where little to no buying interest is being seen at the moment.
Daily Timeframe: Yesterday saw the sellers seemingly lose steam around the 9467 mark, which is not surprising really since this area likely contained unfilled buy orders from the recent move north (17/12/14). However, we still firmly have our eye on the daily demand area seen a little lower at 9126-9233, as this will likely be a prime target for anyone short this index at the moment.
4hr Timeframe: The 4hr timeframe shows that here was clearly buying interest seen around the 4hr decision-point demand area at 9424-9487. Unfortunately for us though, there was very little confirming price action seen on the lower timeframes to take advantage of this move.
We feel there’s a good chance that the DAX will likely see a further decline from here, as most of the buyers have likely now been stopped out/consumed by the spike/tail seen below marked with a blue arrow at 9379. As a consequence, this will likely drive prices towards the aforementioned daily demand area, which if you look is situated beautifully around a 4hr minor swap level at 9139. All of this coupled with the fact that price would still be contained within the aforementioned weekly decision-point demand area (see above) makes it very hard not to consider buying if/when price reaches here.
Current buy/sell levels:
• Buy orders: Flat (Predicative stop-loss orders seen at: N/A).
• Sell orders: Flat (Predicative stop-loss orders seen at: N/A).
Daily Timeframe: Yesterday saw the sellers seemingly lose steam around the 9467 mark, which is not surprising really since this area likely contained unfilled buy orders from the recent move north (17/12/14). However, we still firmly have our eye on the daily demand area seen a little lower at 9126-9233, as this will likely be a prime target for anyone short this index at the moment.
4hr Timeframe: The 4hr timeframe shows that here was clearly buying interest seen around the 4hr decision-point demand area at 9424-9487. Unfortunately for us though, there was very little confirming price action seen on the lower timeframes to take advantage of this move.
We feel there’s a good chance that the DAX will likely see a further decline from here, as most of the buyers have likely now been stopped out/consumed by the spike/tail seen below marked with a blue arrow at 9379. As a consequence, this will likely drive prices towards the aforementioned daily demand area, which if you look is situated beautifully around a 4hr minor swap level at 9139. All of this coupled with the fact that price would still be contained within the aforementioned weekly decision-point demand area (see above) makes it very hard not to consider buying if/when price reaches here.
Current buy/sell levels:
• Buy orders: Flat (Predicative stop-loss orders seen at: N/A).
• Sell orders: Flat (Predicative stop-loss orders seen at: N/A).
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