DAX40 FULL0625 - Daily - Technical analysis published on 05/20/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 18,068.11 EUR
My targets
19,402.67 EUR (+2.89%)
19,966.33 EUR (+5.88%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on DAX40 FULL0624 as long as the price remains well above 18,068.11 EUR. The buyers' bullish objective is set at 19,402.67 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 19,966.33 EUR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8
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This analysis was given by Barts_XV. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
DAX40 FULL0624 rating 18,857.00 EUR. On the day, this instrument gained +0.34% with the lowest point at 18,817.00 EUR and the highest point at 18,859.00 EUR. The deviation from the price is +0.21% for the low point and -0.01% for the high point.18,817.00
18,859.00
18,857.00
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of DAX40 FULL0624 indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of these bullish patterns in Japanese candlesticks:
White morning star
Type : Bullish
Timeframe : Daily
Upside gap
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 17,247.40 | 18,068.11 | 18,812.00 | 18,857.00 |
| Change (%) | -8.54% | -4.18% | -0.24% | - |
| Change | -1,609.60 | -788.89 | -45.00 | - |
| Level | Major | Intermediate | Major | - |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18,623.33 | 18,665.67 | 18,729.33 | 18,771.67 | 18,835.33 | 18,877.67 | 18,941.33 |
| Camarilla | 18,763.85 | 18,773.57 | 18,783.28 | 18,793.00 | 18,802.72 | 18,812.43 | 18,822.15 |
| Woodie | 18,634.00 | 18,671.00 | 18,740.00 | 18,777.00 | 18,846.00 | 18,883.00 | 18,952.00 |
| Fibonacci | 18,665.67 | 18,706.16 | 18,731.18 | 18,771.67 | 18,812.16 | 18,837.18 | 18,877.67 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18,351.33 | 18,529.67 | 18,661.33 | 18,839.67 | 18,971.33 | 19,149.67 | 19,281.33 |
| Camarilla | 18,707.75 | 18,736.17 | 18,764.58 | 18,793.00 | 18,821.42 | 18,849.83 | 18,878.25 |
| Woodie | 18,328.00 | 18,518.00 | 18,638.00 | 18,828.00 | 18,948.00 | 19,138.00 | 19,258.00 |
| Fibonacci | 18,529.67 | 18,648.09 | 18,721.25 | 18,839.67 | 18,958.09 | 19,031.25 | 19,149.67 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16,273.33 | 16,940.67 | 17,504.33 | 18,171.67 | 18,735.33 | 19,402.67 | 19,966.33 |
| Camarilla | 17,729.48 | 17,842.32 | 17,955.16 | 18,068.00 | 18,180.84 | 18,293.68 | 18,406.53 |
| Woodie | 16,221.50 | 16,914.75 | 17,452.50 | 18,145.75 | 18,683.50 | 19,376.75 | 19,914.50 |
| Fibonacci | 16,940.67 | 17,410.91 | 17,701.43 | 18,171.67 | 18,641.91 | 18,932.43 | 19,402.67 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 62.24 | |
| MACD (12,26,9): | 175.8000 | |
| Directional Movement: | 10.07 | |
| AROON (14): | 71.42 | |
| DEMA (21): | 18,816.78 | |
| Parabolic SAR (0,02-0,02-0,2): | 18,699.02 | |
| Elder Ray (13): | 131.33 | |
| Super Trend (3,10): | 18,372.90 | |
| Zig ZAG (10): | 18,850.00 | |
| VORTEX (21): | 1.2000 | |
| Stochastique (14,3,5): | 79.80 | |
| TEMA (21): | 18,903.07 | |
| Williams %R (14): | -17.06 | |
| Chande Momentum Oscillator (20): | 753.00 | |
| Repulse (5,40,3): | 0.3300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1000 | |
| Courbe Coppock: | 7.07 |
| MA7: | 18,867.57 | |
| MA20: | 18,522.45 | |
| MA50: | 18,402.70 | |
| MA100: | 17,880.33 | |
| MAexp7: | 18,809.69 | |
| MAexp20: | 18,606.21 | |
| MAexp50: | 18,334.42 | |
| MAexp100: | 17,944.64 | |
| Price / MA7: | -0.06% | |
| Price / MA20: | +1.81% | |
| Price / MA50: | +2.47% | |
| Price / MA100: | +5.46% | |
| Price / MAexp7: | +0.25% | |
| Price / MAexp20: | +1.35% | |
| Price / MAexp50: | +2.85% | |
| Price / MAexp100: | +5.08% |
Quotes :
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15 min delayed data
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EUREX Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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