CLOSED UNTIL 3rd JANUARY

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Given the minimal volume on the markets at the moment, I have decided to spend the time with the family and enjoy a couple of days away from the screens. Let’s enjoy the quiet while it lasts. I will be back on Monday and we should be able to get back to normal. Happy New Year!

Dax Technical Analysis 27/12/2016

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As expected, volume was very low yesterday and although we did make subtle progress, but there was not a lot to report on. We are still technically in the same position as the article from yesterday: we are overbought and awaiting a pullback/correction. Let’s look at a few scenarios:

Dax Technical Analysis 27/12/2016

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On the daily chart we have reached one of the major bull targets 11430 and are currently in a major resistance zone, set by price action from a similar period last year. We have already extended 100% of the range, which was broken this month and at the top of the trend channel with RSI being firmly overbought, so the opportunities to buy at current price would probably appeal to only a handful of investors, normally those who like to scalp.

Dax Technical Analysis 23/12/2016

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Merry Christmas traders! This is the last day of trading before Christmas and then we have a day off on Boxing Day so will be back on Tuesday. I have been keeping an eye on the MDax recently, Germany’s second stock market for medium sized companies, because it has just reached record highs and passed … Read more by clicking here

Dax Technical Analysis 22/12/2016

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On the daily chart, I am still concerned about going long right now, because although we have pierced resistance, we are printing candles that could be perceived as exhaustion candles. We are slowing down and this could affect the strong momentum that we have seen. We are over 1000 points higher than we were at the beginning of the month and we have barely seen any correction, so I would like to buy at a better price.