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Yes, pretty horrible day on Dax all told. H1 200ema resistance holding, but I'd call momentum, when there is a momentum, upward, so this can crack in the late semester. Or we drop back to the immediate support area which is around 13,020 atm. If this resistance breaks, then R1 is my 1st goal, with 120 as my moment.
S1 @ 957 is only under S1. Any break below S2 today could be a possibly significant move, opening Dax to lower levels, but I do not think it is ready for this and support will hold between where we are now and S2 @ 12,911
That tiny dip probably caught a few people out holding longs. Now we will see what sort of service there is...
I'd say ( until opening NY)
Resistance 13079-89 (Preceding is Extended)
Service 13031-39 (under is short)
Thx for ur explanations HT, tremendously valued!
Well it's Friday... and I have hedged my short position at 13061, therefore it ends up to be level.
Additionally I started to accumulate shorts on EURUSD @1.1924 even though, as I said, it's Friday.
I am aware that it may rise again and again, in that scenario, I shall further accumulate the position @1.1964.
Let us see next week.
Have a nice weekend !!!
50% and S1 now, so that's another possible service level, but momentum still down, so this needs to devote a greater low for the service to be verified. We won't be creating new highs for the month though now, unless a news comes out to push it lower. My best guess is that when it does push lower compared to the 50% fib, then somewhere between the 61.8% and also the 76.4% will maintain it, probably around S2 which is at 12,897 now, and that I am very surprised to see it go much lower than that.
13,000 should, and I emphasize should, be a support level. If it breaks, then there is nothing for it but to put the fibs on, the cheapest being the 76.4% @ 12,888, using S2 only above @ 897
The 76.4% plotted from the 29th Nov top is holding it to the upside for the next time, so that is clearly pretty powerful R for today. Lots os support though across the numbers recorded above, so we'll have to see what they wish to do with this, but as of now, it's trapped in this range, and I'm not expecting it to return too far, so anybody brief from this 76.4% fib best to take it at BE and reverse the trade when it appears like putting up for yet another northbound push.
I'm expecting a fantastic push up this afternoon on Dax. It has already struck the 76.4% fib plotted from the Nov 30th high, so it'll most likely drop back down back from here (that it now has done whilst scanning) to select up service, that appears strong on around today's CP @ 13,042, even though it may not drop back that far. If it does however, and wishes to continue going south for a while, I've lower service about the 15m 200ema @ 038, that can be right in addition to the 61.8% since fib retrace as matters stand atm. Lower than that, then the 76.4 is at 025, and the very lowest service I have is at 013.
A possible high for now has got to be the H3 200sma that sent the price back down on the 29th and 30th, and now I have that ma at 155. Above that R2 is at 186, and that's also a possible high if it actually pushes upward, but above that isn't in my reckoning today. Then as we have seen recently, it could fall, once it will outside summit.
Good luck!
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