Dax Technical Analysis for 19/02/2015

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Morning Traders!

Greece are likely to submit a their proposal today, many think it will simply be a reworded extension which they have recently vehemently rejected. So they want to continue the extension, to receive money to pay the state employees and other bills but without the austerity measures that the extension imposes. Take take take. I think in part, that this is political showmanship and posturing with Tsipras, the newly elected Prime Minister, taking the risk to appear a strong negotiator to his adoring fans. If this is the case, the outcome will be an extension, he can dress it up however he likes.

(MY SUPPORT & RESISTANCE SPREADSHEET IS NOT AVAILABLE, NO LEVELS TODAY)

European shares have hit a 7-year high, so although the extension won’t be the solution, markets will likely continue to rally. It will merely buy time and ensure a gloomy cloud remains over EUR and Greece, making volatility hang around a while.

Daily Dax Chart Analysis

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Still struggling to make much headway above the 1095x. Still above the 8-period EMA and creating a bit of room for ourselves in the channel above us.

Dax Daily Chart Analysis
Dax Daily Chart Analysis

Dax Intra-day Chart Analysis

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Price has been forming a triangle on the 30 minute chart. 10980 could be considered a lower high, which breaks the recent bull trend of higher highs, so failure to take that out tomorrow and Friday could signal further downside, especially with a fundamental trigger such as Greece resistance to an agreement. But of course the expectation is that Greece will make a deal, and markets will rally.

Dax Intra-day Chart Analysis
Dax Intra-day Chart Analysis

Dax Volume Profile Chart Analysis

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Normal distribution profile, perhaps a little compressed. But horizontal vwap in line with the vpoc and mixed signals means we are compressing ready for a breakout.

 

Dax Volume Profile Chart Analysis
Dax Volume Profile Chart Analysis
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