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DAX30 CFD – short-term bears are in control below 12,220 points

May 13, 2019 11:00

Economic events calendar

Source: Economic Events May 13, 2019 - Admiral Markets' Forex Calendar


Despite a relatively thin economic calendar today, the aftermath of the developments surrounding trade negotiations between the US and China will continue to drive global financial markets and leave us with elevated volatility.

Since it's difficult to draw a concrete picture of where the deal will lead us in the coming days, it makes sense to narrow our scope and look at the technical picture in the DAX30 CFD: here, we can clearly spot a sequence of falling highs and lows over the last few days on an hourly time-frame, leaving the advantage clearly on the bears' side, despite the ramp going into the weekly close.

Only If the bulls succeed in sustainably regaining the level around 11,220 points could the sequence be broken, switching the mode to neutral and making a stint back towards the current yearly highs of around 12,450 points an option.

A break below the pre-weekly lows around 11,950 points continues the bearish sequence and levels the path down to 11,800/830 points.

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD chart (between January 31, 2018, to May 15, 2019). Accessed: May 15, 2019 at 10:00pm 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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Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

  1. This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
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  3. Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter "Author") based on the Author's personal estimations.
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