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DAX30 Waiting for the Breakout Move

February 28, 2018 08:37

Source: Admiral Markets MT5 with MT5SE Add-on

As the US data slipped overnight, showing signs of weakening the economy in the US, the data from China is also showing a slowing manufacturing sector, yet from Europe, the data has been okay this week. US Equities pulled back later in the session yesterday, causing the Dax to follow ever slightly, trade with caution as we may see a breakout move in the DAX30 in hours to come.

The price is very close to POC zone 12387-12407, and the move above the blue trend line could spike the price up to D H3 12490 and D H4 camarilla pivot - 12541. Only a 4h close above D H4 might mike a continuation move towards 12626. However, below 12385 the price might drop to D L4 - 12336 and 12262. Watch for these levels.

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)

Best wishes,

Nenad

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