01 Dax Daily Chart

Dax Technical Analysis 16/06/2016

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Hello traders!

I will have to give credit to Roger and Mo from the DaxTrader group for today’s article, because I am actually in the back of a van driving out of Dorset on the way to a couple of gigs for the rest of the week, so I will be borrowing their analysis today. Hope you don’t mind guys.

In summary, the comments could be compiled into the following paragraph: “Nikkei delivers a big drop overnight. Us indicies futures all down. Gold and US bonds flying. All pointing to likely further Dax downside for on open. We actually had a 200 point gap and maybe that gap is too big to close. Also the FED appears indecisive from month to month which looks like they don’t know what to do now, not a good sign.”

9430 provided a good area of support and futures prices caught a decent bounce from there. I am aware that many traders were targetting 9440, so that reaction at that level would make sense. So shorts are being slowly strangled.

9440 is key support and I think a daily close beneath this level will be a big sign of future movement.

I personally managed to get in and catch a few moves, I held a position overnight, which I sent out to my subscribers and caught around 90 points there, which was a great start to the day.

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Dax Support & Resistance

KEY LEVELS
Daily R29710
Daily R19647
Daily Pivot9603
Daily S19540
Daily S29497
200 Day EMA10126

Dax Charts

03 H1 Dax Chart
03 H1 Dax Chart
02 Dax H4 Chart
02 Dax H4 Chart
01 Dax Daily Chart
01 Dax Daily Chart
05 Dax m5 Chart
05 Dax m5 Chart
04 Dax m30 Chart
04 Dax m30 Chart

2 thoughts on “Dax Technical Analysis 16/06/2016

  1. I’ve gone long at 9440. I expect a bounce but if we crash through 9400 I think the floodgates will open and my target would be well below 9000. I still feel sensible value for the DAX lies at 7500-8000 and I fully expect we will get there over time.

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