Dax

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H1: Yesterday morning the price was pressed twice until 200% retrace of the bottom 11,412 and the top 11,573 but it failed to go downwards. The bottom of 07/05/2015 (11,228) caught DAX. The two wicks and the large-bodied engulfing was enough to explode the price upwards. The dynamics are weak in this time frame. So far DAX is looking for the direction.

Rise: After breaking the top of 13/05/2015 we may anticipate increase. To occur this, DAX has to break the main trend line and the daily zone 11,620. Take profit level is the next H4 level 11,765 then 11,920 and 12,000.

Fall: From this level DAX may turn down as the local tops are decreasing and as it is under the main trend line. Initial take profit level is the bottom of yesterday and the daily zone 11,300 then 161.8% and 200% retrace of 07/05/2015 bottom and 07/05/2015 top.
DAX_H1_0515-624x302.png
 
H1: Though the top of 13/05/2015 (11,573) has broken with small dynamics and without significance, the main trend line and the daily zone 11620 has caught the price. After a couple of hours stagnation it turned down. The daily level 11,400 has stopped the fall. Formation of the triangle is clearly visible in this time frame too.

Rise: If dax can start increasing from the level 11,400 our initial expectation is the resistance of the triangle. After breaking the top of 15/05/2015 (11,612) we may anticipate further increase. To occur this, DAX has to break the main trend line and the daily zone 11,620. Take profit level is the height of the triangle at 12,120 but the levels 11,765, 11,920, 12,000 and 12,075 can stop it.

Fall: If bears can push DAX down, our initial expectation is the support of the triangle which overlaps the bottom of 14/05/2015 and the daily zone 11,300. After breaking this level DAX may fall until the level 11,770.

DAX_D1_0517-624x307.png
 
H1: First DAX tested back the main trend line and the resistance of the triangle in the morning then it has bounced down. The hourly level at 11,400 has caught it then DAX turned up with an engulfing candle. First the price was pushed back from the resistance and a shooting star formed but later the main trend line and the resistance of the triangle were broken.

Rise: DAX may rise without any corrections. Initial target price is the next H4 zone at 11,765 then the further levels (11,920, 12,000 and 12,075) up to the height of the triangle (12,120).

Fall: If bears push back DAX into the triangle then our initial expectation is the support of the triangle which overlaps the bottom of 14/05/2015 and the daily zone at 11,300. After breaking these levels the next take profit level is the height of the triangle at 11,770.
 

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H1: So far a near target price has been realized: the 161.8% and 200% retrace of the closes of 15/05/2015 top and bottom.

Rise: DAX can even continue rising without a correction. Initial target price is the next H4 zone at 11,920 then the further levels at 12,000 and at 12,075 up to the height of the triangle (12,120). In case of a correction I would draw a new target Fibonacci Retracement. New take profit levels would be the 161.8% and 200% retraces.

Fall: From this level where DAX rests at the moment it may start to decrease which can touch the correction levels of 18/05/2015 bottom and 19/05/2015 top. The 50% retrace overlaps the daily level 11,620 and the 61.8% retrace is on the main trend line.

DAX_H1_0520-624x307.png
 
H1: Yesterday morning the dynamics started bearish but it lost its power quickly then it changed a bit bullish. The candle bodies became smaller. DAX rests between two technical levels (11,860 and 11,770).

Rise: If DAX continues rising without a correction then initial target price is the next H4 zone at 11,920 then further levels (12,000 and 12,075) up to the height of the triangle (12,120). In case of a correction I would draw a new target Fibonacci Retracement. New take profit levels would be the 161.8% and 200% retraces.

Fall: If the price starts a correction from this level where it rests at the moment it may decrease until the correction levels of 18/05/2015 bottom and 19/05/2015 top. The 50% retrace overlaps the daily level 11,620 and the 61.8% retrace is on the main trend line.

DAX_H1_0521-624x307.png
 
DAX - Initial target price is 12,000

H1: In this time frame the local tops and bottoms are increasing so the trend is bullish. For the time being there was only a consolidation until the 23.6% retrace of 11,377-11,890 rise (18/05/2015 low and 21/05/2015 high).

Rise: If DAX continues rising without a correction then initial target price is the H4 zone at 12,000 but in the meantime the zone 11,920 can stop the rise. Further take profit level is the height of the triangle at 12,120. In case of a correction I would draw a new target Fibonacci Retracement. New take profit levels would be the 161.8% and 200% retraces.

Fall: If the price starts a correction from this level where it rests at the moment it may decrease until the correction levels of 18/05/2015 low and 20/05/2015 high (11,377-11,890). The 50% retrace overlaps the daily level 11,620.

DAX_H1_0522-624x307.png
 
DAX may start a correction

H1: Like H4 the local tops and bottoms are increasing too so the trend is bullish. For the time being there was only a consolidation until the 23.6% retrace of 11,377-11,890 rise (18/05/2015 low and 21/05/2015 high).

Rise: If DAX continues rising without a correction then initial target price is the H4 zone at 12,000 but in the meantime the zone 11,920 can stop the rise. Further take profit level is the height of the triangle at 12,120. In case of a correction I would draw a new target Fibonacci Retracement. New take profit levels would be the 161.8% and 200% retraces.

Fall: If the price starts a correction from this level where it rests at the moment it may decrease until the correction levels of 18/05/2015 low and 20/05/2015 high (11,377-11,890). The 50% retrace overlaps the daily level 11,620.

DAX_H1_0524-624x307.png
 
Daily Technical Analysis - DAX

H1: The instrument touched the 61.8% retrace of 11,377-11,925 rise (18/05/2015 low and 26/05/2015 high) which closely overlaps the daily zone 11,620. DAX fell with a powerful dynamic until this level.

Rise: The yesterday’s doji with long wick below and the reduced bearish dynamics may bring upwards movement. Initial target price is the 161.8% and 200% retraces of top of 21/05/2015 and bottom of 26/05/2015. 200% retrace nearly overlaps the height of the triangle at 12,120.

Fall: If the 61.8% retrace of 11,377-11,925 rise (18/05/2015 low and 26/05/2015 high) breaks with a large-bodied candle fall may continue until the daily zone 11,300 but this fall can be stopped by the H1 level 11,400 and by the main trend line.

DAX_H1_0527-624x307.png
 
DAX - Further rising is expected

H1: DAX had tested back the 61.8% retrace of 11,377-11,925 rise (18/05/2015 low and 26/05/2015 high) a few times yesterday before it started moving upwards. The daily zone at 11,770 stopped the rise.

Rise: I expect further rising on this instrument but the technical levels can stop this move. Initial target price is the 161.8% and 200% retraces of top of 21/05/2015 and bottom of 26/05/2015. 200% retrace nearly overlaps the height of the triangle at 12,120.

Fall: If DAX turns down from the daily level 11,770 then it breaks the daily zone 11,620 fall may continue until the daily zone 11,300 but this it can be stopped by the H1 level 11,400 and by the main trend line.

DAX_H1_0528-624x307.png
 
DAX moves between two daily zones

H1: DAX moves between two daily zones (11,700-11620). It could not break the level 11,770. It tested back the sub-trend line (white line) and it went back to the 61.8% retrace of 11,377-11,925 rise (18/05/2015 low and 26/05/2015 high). The local tops are decreasing but the bottoms are at the same level. Difference compared to the H4 is that bearish dynamics have increased.

Rise: Further rise is expected if DAX breaks the level 11,770. Initial target price is the 161.8% and 200% retraces of top of 27/05/2015 and bottom of 28/05/2015. Both target levels nearly overlap H4 zones.

Fall: If DAX turns down and it breaks the daily level 11,620 fall may continue until the daily zone 11,300 but this it can be stopped by the H1 level 11,400 and by the upward trend line.

DAX_H1_05-624x307.png
 
DAX - Bearish dynamics have strengthened

H1: DAX broke the daily zone 11,620 with a large-bodied candle in the morning then it tested back this level with a large-bodied, bullish candle with a long wick above. Then it fell until the H1-H4 levels (11,430-11,435). This is a strong support because the main trend line and the 200% retrace of 11,609-11,781 rise (26/05/2015 bottom and 27/05/2015 top) are here too.

Rise: Local tops and bottoms are decreasing so I think of upward entries until the correction levels of 11,795-11397 fall (27/05/2015 high and 29/05/2015 low). If the 61.8% retrace breaks with a significant candle further rise may be expected.

Fall: If DAX falls without any corrections initial target price is the daily zone at 11,300 then 10,970. Breaking the main trend line may bring downward movement in the longer term. In case of a correction take profit may be the value of 161.8% on the Fibonacci Retracement which is drawn on the prospective correction.

DAX_H1_0531-624x307.png
 
DAX - Direction is not obvious

H1: Direction is not obvious compared to H4. In this time frame local tops and bottoms are decreasing however, dynamics turned bullish. There is potential in both directions.

Rise: As local tops and bottoms are decreasing I think of upward entries until the correction levels of 11,795-11397 fall (27/05/2015 high and 29/05/2015 low). If the 61.8% retrace breaks with a significant candle further rise may be expected.

Fall: If DAX breaks H4 level of 11435 with a significant candle then initial target price is the daily level at 11300 then 10970. Breaking the main trend line may bring downward movement in the longer term.

DAX_H1_0602-624x307.png
 
DAX - Movements with powerful dynamics

H1: As there was a consolidation so I draw the Fibonacci Retracement from the high of 27/05/2015. The instrument started moving downwards with powerful dynamics. It broke the daily zone of 11300 but the next candle closed back this level then DAX moved in a range.

Rise: Local tops and bottoms are decreasing. I think of upward entries until the correction levels of 11,795-11268 fall (27/05/2015 high and 02/06/2015 low). If the 61.8% retrace breaks with a significant candle which level nearly overlaps the daily zone of 11620 further rise may be expected.

Fall: If DAX breaks the D1 level of 11435 with a significant candle then initial target price is the daily level at 10970. This fall may be stopped by H4 levels of 11170 and 11080.

DAX_H1_0603-624x307.png
 
DAX has bounced down

H1: The instrument started to move with increasing dynamics upwards yesterday. It closed above the H4 level (11435) and the main trend line but it could not stay there. The next candle became a shooting star which went near the 50% retrace of 11,795-11268 fall (27/05/2015 high and 02/06/2015 low) but it closed on the 38.2% retrace. DAX bounced down with a large-bodied marubozu from here but it went flat bythe end of the day.

Rise: If bulls take control again they can push the instrument until the 61.8% retrace of 11,795-11268 fall (27/05/2015 high and 02/06/2015 low). If the 61.8% retrace breaks with a significant candle which level nearly overlaps the daily zone of 11620 further rise may be expected.

Fall: Fall may continue from this level. Initial target price is the daily level at 11300. If DAX breaks this D1 level with a significant candle then take profit level is the daily level at 10970. This fall may be stopped by H4 levels of 11170 and 11080.

DAX_H1_0604-624x302.png
 
The daily level of 11300 was broken

H1: The daily level of 11300 was broken by a large-bodied candle yesterday then DAX came near the H4 level of 11170 with a wick. Here is the 161.8% retrace of 11285-11465 rise (02/06/2015 bottom and 03/06/2015 top) too. Later DAX did a correction and broke the 61.8% retrace of 11514-11185 fall (03/06/2015 high and 04/06/2015 low). It came close to the top of 03/06/2015 (11465) but it bounced down with a bearish candle with long wick above. It could only fall till the former bottom.

Rise: If the H1 support (11230) will be strong enough (where DAX rests at the moment) then it can continue rising. Target price is the next H4 level at 11435. After breaking this zone the instrument may rise till 11620.

Fall: If DAX breaks the H1 zone of 11230 with a significant candle then target price is the 200% retrace of 11285-11465 rise (02/06/2015 bottom and 03/06/2015 top) which closely overlaps the H4 level of 11080.

DAX_H1_0605-624x302.png
 
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