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Triple witching in the DAX30 CFD – a trigger for a break above 13,400 points?

December 20, 2019 10:00

DAX30

Economic Event December 20, 2019

Source: Economic Events December 20, 2019 - Admiral Markets' Forex Calendar


As we approach the weekly close, and the last trading day of the year which carries a realistic chance of seeing some elevated volatility before the holiday season kicks off (Trading Hour Schedule for the 2019 Christmas & New Year Holiday Period), we want to take a look at the DAX30 CFD again.

Traders could see some heavier swings in the German index today since today is the last big expiration in the DAX-Future with data from the EUREX showing that there is relatively high interest at the 13,400 point mark.

Price action over the last days has clearly shown that market participants are interested in holding the DAX30 CFD below 13,400 points.

But if bulls gain control and we get to see an attack and break before 12pm GMT (this time Futures and Options expire at the EUREX), a short-squeeze could be the result, pushing the German index in an expected thin market environment up to 13,600 and into the region of current all-time highs.

In general, and from a technical basis, this stays an option as long as the DAX30 CFD trades above 13,080/100 points, and if we don't get to see such a push higher today (which seems likely, given the fact that the DAX30 CFD currently trades substantially below 13,400 points), such a run has an elevated chances to be seen into the start of 2020:

DAX 30 CFD - Hourly Chart

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Houry chart (between December 2, 2019, to December 19, 2019). Accessed: December 19, 2019, at 10:00pm GMT


DAX30 CFD - Daily Chart

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between September 12, 2018, to December 19, 2019). Accessed: December 19, 2019, at 10:00 PM GMT - Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of the DAX30 CFD increased by 2.65%, in 2015, it increased by 9.56%, in 2016, it increased by 6.87%, in 2017, it increased by 12.51%, in 2018, it fell by 18.26%, meaning that after five years, it was up by 10.5%.


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