03 H1 Dax Chart

Dax Technical Analysis 31/03/2017

Hello traders!

Gains continued with yet another 2017 high printed yesterday, the 12191 resistance seems to have been significantly cleared, so let’s look above to see what targets are available. To the upside, we have the All Time High as our next major resistance and I suspect the market is looking to reach this. Beyond that, it’s all new territory. To the downside, I am getting various S&P500 sell alerts USDJPY sell alerts, EURUSD buy alerts, all of which point to downside on the Dax, but you can not really argue with the momentum at the moment. 12191 is a potential spot to target for bears.

Yesterday I posted a quick poll in the Telegram group:

Let’s get a quick sentiment check. Which camp are you in at the moment, for the next 24 hours or so? Bullish or Bearish

Bearish – 26
👍👍👍👍👍👍👍 51%

Bullish – 17
👍👍👍👍👍 33%

Neutral – 8
👍👍 16%

👥 51 people voted so far. Poll closed.

The algo is bullish, but again I have been reluctant to keep it switched on. For today,  I will turn it back on again.


 

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Dax Support & Resistance

KEY LEVELS
Open12205
High12262
Low12194
Close12260
Range68
Change0.45%
14 Day ATR108.44
Daily R212304
Daily R112280
Daily Pivot12236
Daily S112212
Daily S212168
200 Day EMA11157

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