Dax future: bearish trend, price below the 14 days moving average

Dax future close slightly higher. The major oscillators confirm the bearish trend, marked a series of 3 consecutive higher lows.

Dax future close slightly higher. Trading session of the 05/01/2016 ends at 10285.5 (+0.21%). Marked a series of 3 consecutive higher lows. Technical analysis applied to the daily chart shows a bearish trend, anyway for today trading session the forecast of price movements is between support and resistance levels. The major oscillators confirm the bearish trend.

DAX Future

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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 10553). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance 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: 05/01/2016.

Performance: 7 trading days= -1.83% – 15 trading days= -3.09% – 30 trading days= -7.25%

Resistance levels: R1= 10402 – R2= 10518.5 – R3= 10750
Pivot Point: 10287
Support levels: S1= 10170.5 – S2= 10055.5 – S3= 9824


DAILY TRADING SIGNALS

Buying opportunity above 10324.5 targets minor resistance at 10368 and perhaps as far as strong resistance at 10403, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 10501.5.

Selling opportunity below 10243.5 targets minor support at 10203 and perhaps as far as strong support at 10168, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 10067.5.