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ger30 DAX daily anylysis


oilfxpro

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It is caught in a ranging market   , with  9700  clear support and 10,100 resistance .Euro is flat , and strength of euro  affects  german exports 

 

Probably  back above 9950 , current momentum of indices?depends on wall street open

 

 



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if 9840 resistance  becomes support , it may touch 9950.I am long at 9840 stop below 9830.stop now at 57  

 

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=trading%20support%20resistance%20%2C%20tested%20support%20%2Fresistance

 

I like to read posts  ,where traders take positions and their anylysis , as opposed  to after event   claims of delusional profits  , ego boosting claims  , which are of no use to anyone reading.

 

 https://www.google.co.uk/search?q=trading+support+resistance&oq=trading+support+resistance&aqs=chrome..69i57j0l5.9960j0j8&sourceid=chrome&ie=UTF-8#q=tested+support+resistance&tbm=vid

 

 





 

 http://www.quotenet.com/index/market-movers/DAX

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Dax looks good for long above 9630

 

dax  calls 9620  for 20   might be a good trade.9630  is  resistance , it is friday  , if it breaks  it is going 9700 major resistance

 

dax isdangerous for cash trading , so I only trade options

 

 

 



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  • 2 weeks later...

The Dax has certainly entered a congestion zone on the hourly chart although which side it emerges on is not clear.  With RSI and Stochastic in near over sold territory there could be a small bounce from here but with Neg Mom Div from yesterdays turn down still dominant I would say there longer term trend is still down here.  My upper tramline is showing strong resistance so Shorts near the tram of after a break through resistance are my favoured bets on the Dax.  Any Long could run out of steam before the tramline.

 

US open will probably tell the tale.

 



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