Dax future: new bullish signal, expected further price extensions

Strong bullish signal: the price crosses above the 14-day moving average (SMA value is 9262). Marked a series of 4 consecutive higher highs.

On the 17/02/2016 Dax future close was at 9376.5 (+2.98%). Marked a series of 4 consecutive higher highs. The main trend is up on the daily chart, the bulls are in control. For intraday trading session the technical view is positive and leaves assume the up-trend continuation. The values of many leading oscillators show an improvement and appear turning positive.

Dax Future bullish signal

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
Strong bullish signal: the price crosses above the 14-day moving average (SMA value is 9262). Today trading session forecast is for further price extensions towards the most significant resistance levels. However, the buy signal should be confirmed with increasing volume.
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: 17/02/2016.

Performance: 7 trading days= +5.28% – 15 trading days= -2.57% – 30 trading days= -4.61%

Resistance levels: R1= 9486.5 – R2= 9596 – R3= 9884
Pivot Point: 9308
Support levels: S1= 9198.5 – S2= 9020 – S3= 8732


Buying opportunity above 9392.5 targets minor resistance at 9427 and perhaps as far as strong resistance at 9461, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 9555.5.

Selling opportunity below 9328.5 targets minor support at 9298.5 and perhaps as far as strong support at 9262, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 9170.