We’ve had a bit of a whipsaw morning, we started early with a gap open higher, we then closed the gap and moved lower by the same amount as the gap, before coming back to find the balance point again. Price is trying to stay above the daily 200 EMA and finding some support at 10200. We still have a lot of resistance to break above us, with the three peaks on the daily chart providing a barrier, but the trend is still active and looking fairly strong. We are short term bullish above 10145. I have been watching the Keiken Ashi smoothed (hourly chart) for a basic trend and bias indicator, and this has just turned bullish, opening up the door to another bullish break
The ECB “continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases”. This is great for Bulls and so now we look for targets.
10250 – previous high (yesterday)
10340 – previous high (late June)
10485 – previous high (April)
Dax Support & Resistance
|200 Day EMA||10064|