Dax Volume Profile

Dax Technical Analysis 12/12/2014

Current Daily Bias: Bearish

Support: 9770, 9734, 9700, 9683, 9659, 9632

Resistance: 9981, 9950, 9908, 9895, 9859, 9820,

Talking Points: BASF, Commerzbank, Major lows on Oil, QE expectations, Rising bonds, Profit taking, 3-year LTRO repayment
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Dax Market Commentary

So oil prices have been dominating risk appetites recently and with USOIL breaching the 60 dollar handle, global markets have reacted with fear with fairly aggressive selling off. When you consider that some of the global equity markets are made up of very large oil companies, you can understand why.

[wp_ad_camp_3] As for the components on the Dax, I believe BASF and commerzbank have been hit recently. One thing I am finding interesting at the moment is the friction between the bearish pressure/fear from oil prices and the current flow of money and expectations for further QE in the Eurozone. It seems to be creating a divide in sentiment and I suppose that this would manifest as volatility, providing interesting opportunities for brave investors.

[wp_ad_camp_3] Today, I am bearish, I am short/about to close a short position and looking for more opportunities to short. Whilst I was typing this sentence I actually did close a position and waited for price to climb back up towards vwap before going short again, this unfortunately looks close to being stopped out, so I will wait for another entry if that happens.
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In terms of technicals we gapped lower today and have already closed the gap. I can not see any low volume pockets

Technical Analysis


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Dax Charts

Dax Support & Resistance
Dax Support & Resistance
Dax Volume Profile
Dax Volume Profile
Dax VWAP
Dax VWAP