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DAX30: The Price has Reached an Important Zone

February 15, 2018 08:59

Source: Admiral Markets MT5

The DAX30 has been in a steady uptrend. We can see a cluster of resistance that makes for a POC zone ( W H3, D H3, channel top, historical sellers) 12500-12510 is the zone and we could see a bearish reversal candlestick configuration that might turn the price down. If the price is rejected, watch for 12400. Clear break below should target 12367, 12299 and 12197. However if the price proceeds and makes 1h momentum candle or 4h close above 12510. we might see 12606 and eventually 12783 by Friday. Weekly H3 resistance is the most important level now.

W H3 -Weekly Camarilla Pivot (Weekly Interim Resistance)

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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DAX30 Instrument