Market Video Overview: DAX 40 Futures
Tim Fairweather’s weekly report on the DAX 40 futures market.
DAX 40 report transcript
Transcript proof learn to observe…
Hello everybody. And welcome again to a different weekend market report. My identify is Tim Fairweather, and we’re going to speak in regards to the DAX. So let’s test it out.
Wanting on the month-to-month DAX right here. We’ve received, we’re taking a look at DAX on the month-to-month chart. We’ve received a bull exterior bar right here, small physique, huge tail beneath, and we’ve received another buying and selling day left.
And thus far we’ve received a giant bull bar closing close to a tie. We’re closing above 19,000 and this has been a magnet for fairly some time. So it’s been an necessary shut that the bulls wanted to maintain this bull channel going. The bulls see an try at a double high. A breakout and this leg was extremely robust and merchants are beginning to marvel, is that this leg going to have two different legs prefer it for a wedge high up right here to twenty,000 and past, or was this one leg pause two, two legs sideways.
And is that this the third leg? It’s a bit of bit complicated. So this appears to be like like a closing flag to me, however we may be getting a breakout of that closing flag. So leg three after which pull again to 19,000. I feel should you look again to the large spherical numbers, we’ve received 18,000 in right here. We’ve received 17,000 down right here. It will be unlikely for this simply to take off.
And by no means look again. We’ve received a few measured transfer targets above as nicely. One of many issues that the bears have right here is that they haven’t triggered any bear bars on the month-to-month chart. And for me which means a bear bar the place you may promote on a cease one tick beneath and you bought taken in on the subsequent bar.
So right here bears can promote the bar. Right here bears can promote beneath. Right here not. And you may see as soon as bear bars begin to set off, We begin to get sideways to down, however he nothing but. So we’re nonetheless all the time in lengthy. So anticipating sideways to up. So best option. Lengthy or flat, however we’ve had a really tight buying and selling vary in right here.
So I feel we’re going to return again and check this. We would even spend a little bit of time. As soon as we attain the targets above, what are the bears need? Properly, the bears desire a actually huge tail on this bar, however with one buying and selling day left, most likely unlikely they’re going to get that. So which means you’ve received a bull breakout and observe by means of.
One other approach to have a look at it’s that This exterior bar didn’t shut strongly above the prior bull bars. So this sign right here isn’t that clear. If it took off, we’ll most likely come again and check it. The opposite subject for the bulls is to purchase up right here, your cease could be very far-off. And since that was an outdoor bar, that’s primarily a decrease low.
It’s a part of an increasing triangle. And we’ll see that extra clearly on the weekly chart. So now we’re trying on the weekly chart and you’ll see that increasing triangle. We’re arising. We’ve received three legs up, two legs sideways. And the bears had been in a position to get value beneath a swing low. So primarily if that was your swing cease someplace in right here or right here, that received damaged.
So merchants had been searching for this to show right into a buying and selling vary, however then the bulls received 1, bars in a row, a pullback with a purchase underneath. And we mentioned that purchasing in right here, shopping for the transferring common, shopping for above this bar, we’re all going to be moderately good trades anticipating to run the stops. Two weeks in the past. It was a small bull doji.
It was affordable to promote above these bear bars, and it was affordable to promote above that bear bar, however these bears at the moment are trapped. So I feel we’re most likely going to return again. To allow them to out after which merchants will determine if this can be a breakout pullback for an additional leg up, or we’ll begin doing extra of this.
I’ve received a development line in case that’s the channel that we’re going as much as. It was a two hour goal on this purchase, which we reached final week. And we’re about one instances this weekly bar right here. So for merchants offered beneath that bear bar, offered extra above the excessive. Bought extra one instances that bar up. That’s most likely the place we’re going to pause subsequent week round about 19.
So what do the bears want? Properly, the bears want one other promote sign right here and it must be adequate to persuade merchants to not purchase above the excessive of those bars. What about for the bulls? Properly, they’ve received 4 bull bars in a row, three bull bars in a row. So extra doubtless we’re in a bull channel.
They’ll purchase and scale in decrease beneath these bull bars again on the transferring common. However they don’t wish to come again into this mid vary an excessive amount of as a result of you may see there have been a whole lot of bears there. Is final week sign bar? Properly, it’s a powerful bull bar above the transferring common. The cease is much away.
It’s a greater purchase than a promote, however you’re in an increasing buying and selling vary with a whole lot of overlapping bars. So we’ll see subsequent week. Is that this a revenue taking bar and merchants will promote the garments or is it a powerful sufficient breakout? Now we’ve received two robust closes. above the prior excessive, the dealer goes to purchase above it.
Properly, thanks very a lot for watching. In order that was the DAX 40 futures for subsequent week, the month-to-month and the weekly chart. And I’ll see you once more subsequent week. Blissful buying and selling.
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