Dax future: marked a series of 6 consecutive higher highs

Marked a series of 6 consecutive higher highs. Dax future technical overview is mildly positive.

On the 27/05/2016 Dax future closing price was unchanged (-0.05%) at 10272. Marked a series of 6 consecutive higher highs. Technical overview is mildly positive, however the short term view leaves assume a price movements between support and resistance levels. Many leading oscillators confirm the trend.

Future Dax higher highs

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 9997.11). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 27/05/2016.

Performance: 7 trading days= +4.88% – 15 trading days= +4.00% – 30 trading days= +1.85%

Resistance levels: R1= 10306 – R2= 10339.50 – R3= 10405.50
Pivot Point: 10273.50
Support levels: S1= 10240 – S2= 10207.50 – S3= 10141.50


Buying opportunity above 10311 targets minor resistance at 10354 and perhaps as far as strong resistance at 10389, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 10487.50.

Selling opportunity below 10230 targets minor support at 10190 and perhaps as far as strong support at 10155, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 10054.