Dax Technical Analysis 08/04/2015

Good morning traders!

Relatively short post today because I am unlikely going to trade. I am still waiting for confirmation on whether Greece are going to pay IMF or not, which should be tomorrow. I personally can not see where they are getting the money from and it’s going to be a serious problem is they go into silent default.

I am not quite ready to change my bias to bearish, but I would not be averse to capitalising on a drop based on our over-extended price.

So I will be sitting out and watching today

Dax Support & Resistance

KEY LEVELSDifference
Daily R212234158
Daily R112155128
Value High12119118
24hr VWAP12102124
Naked VPOC1207994
Daily Pivot1206689
Value Low12062100
34 Hour EMA1206277
Daily S11198759
Daily S21189820
200 Day EMA1031021

Dax Daily Chart Analysis

We are still making good progress towards the top of the range here, plenty of resistance overhead. Tomorrow could prove significant to provide the catalyst to break us out one way or another.

2Dax Daily Chart
2Dax Daily Chart

Dax Intra-day Analysis

I have added another couple of support zones

3Dax Intra-day Chart (4 hour)
3Dax Intra-day Chart (4 hour)

30 minute Chart

Still trapped in the range, hovering around the weekly R1. The 34 hour EMA is beginning to climb.

4Dax Intra-day Chart (30 minute)
4Dax Intra-day Chart (30 minute)

5-minute chart

We are bouncing between the daily pivot and daily R1 today and on the bigger picture there is a triangle forming. A break above R1 could take us towards R2 and a break below the blue line could take us to S1

5Dax Intra-day Chart (5 minute)
5Dax Intra-day Chart (5 minute)

Volume Profile

The gap open from yesterday is still safe, but a break into that zone could see a sharp sell off. YVAL is holding nicely at the moment. VWAP is flat and we are currently consolidating inside the lower volume area from yesterday.

6Dax Volume Profile Chart (5 minute)
6Dax Volume Profile Chart (5 minute)