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DAX Index 27 Dec Update

21 Dec Chart

link to update : https://www.tecet.net/?p=2759

27 Dec Update

Charts

Buy

Supports / Resistance

10,685 10,563 10,512 / 10,440 10,337

TP 10960/11075

Sell

Supports / Resistance

10,685 10,563 10,512 / 10,440 10,337

TP 10,220 / 10,100

Volume

6 Comments

  1. Paul

    Follow you on ST, good charts as always…tough market just now. Similar opinion as your current bullish pattern but then maybe re-test the recent lows or maybe 10k before the BREXIT vote (w/c 14th Jan)…….then the direction will depend on that vote. If the current deal goes through then should kick on past 11k?? by March / April…….if its a Hard BREXIT then I guess watch out below??

    cheers
    Paul

  2. Tecet

    Hi Paul tough market indeed. Hard to find foot hold for long swing position but I’m keep trying. Prices for some time at levels where I would like buy and forget but still DAX making new lows.
    Last 2 days however give some hopes. We clearly see buing activity, got some info as large pension funds started to spend cash on building up portfolio and they are in rush, however if they are long term holders so as soon they will be done with shopping they will disappear and most likely not support prices as they approach is buy and hold. We have also call to arms from US investment banks to prevent free fall but not sure what tactic they apply like blocking short selling algos or more aggressive we will see.

  3. Tecet

    DAX show some strength but struggle to strike higher, maybe retest lows or correction to higher low is in order. That push towards 11300 and buyout back to 600ish is bit prank style as holiday market and session closed for EU create trap for short positions down there.

  4. Tecet

    Lets see if we have low established or we near that we can except range trading so all parts interested can get in on good prices, longer range trading period stronger move after base formed. Also question is what to do with short sellers, pressure will not disappear just like that, traders are heavy in profit and have upper hand. I’m not quant tactician but believe this can be done in 2 ways or combination of them, range trade and absorbing sell orders will work for buyers and force short sellers to adapt tactic and perhaps take part profits, more aggressive action and short squeeze is good option but if get supported all way up other hand will end up as another short sell opportunity.

  5. Paul

    Hi, thanks for your comments. I agree with your last comment with regards to short sellers and pressure will not disappear. A short squeeze will probably come at some stage…..but as you say, it just provides another sell opportunity. My opinion is that we will follow a similar pattern to the start of 2016 and see a bit more downside….and then it bounce sharp until April…….then could be a choppy summer and then further downside again. Really all depends on the US over the next 12 months.

  6. Pingback:DAX Index 02-05 – Tecet

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