Dax Technical Analysis 27/02/2015

Good morning traders!

Record highs reached on the Dax! Oh, wait, that’s not news anymore is it?!

So we are at the top of the rising trend channel on the daily chart, we are at the top of the rising trend channel on the 30 minute chart, we have seen a volume spike at 11350 on the 5 minute chart, we also have a potential fundamental catalyst today to ignite a pullback, with decisions on the Greece reforms. So there could be a bearish argument for today, especially also as it’s Friday and the end of the month so perhaps some profit taking in the futures market.

However the Greece reforms are expected to pass through easily enough, with only a small minority of German back-benchers opposing, so markets could continue the current rally.

I think 11500 is a ceiling for upside movement today and would surprised if we exceeded that, and to the downside if we pass 11230 then I would be very surprised if we closed below 11k.

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Support & Resistance

KEY LEVELSDifference
Daily R211413162
Value High11333122
Naked VPOC11321119
Daily R11126943
24hr VWAP1126766
34 Hour EMA1123663
Value Low1122938
Daily Pivot11016-184
Daily S110872-303
Daily S210619-530
200 Day EMA9852-18

Dax Volume Profile Analysis

A break under the naked vpoc allows us to test the lows of yesterday and if they break we could head fairly quickly down to the value area low

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

Dax Intra-day Analysis

We are at the top of the rising channel, in between the weekly R1 and R2. We have so far eaten up resistance and driven forward, but today could support a pullback.

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

I would be surprised to see a lift towards the daily R1 and then a decline

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

Dax Daily Chart Analysis

Massively overbought, based on the trend channel and being at the top end of the pitchfork. A healthy pullback could allow more upside next week.

Dax Daily Chart
Dax Daily Chart
Dax Intra-day Chart (5 minute)
Dax Intra-day Chart (5 minute)
Dax Intra-day Chart (30 minute)
Dax Intra-day Chart (30 minute)
Dax Volume Profile Chart (5 minute)
Dax Volume Profile Chart (5 minute)
Dax Daily Chart
Dax Daily Chart
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