DAX Nov to Dec Rollover 16th Nov 2017
The DAX having closed on Tuesday just 13-points below the bottom boundary of its zone we thought it would make it yesterday.
Sadly, especially when it is a specific point in time, anything can throw the proverbial spanner into the works, and we feel that is exactly what happened here.
Ironically it has ended up almost bang on the money where the NZ used to, or was for the first 3 weeks of this expiry having just moved this Monday.
However, and like London, the low yesterday was 12847, which was Y2 (and still is) and also the bottom of our trading range.
Range: 12850 to 13050
Activity: Very good
Type: On balance only just bearish
The last few days haven’t really meant anything in December, although the NZ here being where it is certainly would not have helped.
However, now we are in the grey area this expiry starts having more of an influence and so the continuing lack of ratio, and probably more importantly, the lack of development, should start to focus one’s attention.
The astute may have noticed that 12850 was also the bottom of our trading range here (low 12847) this being the upper boundary of the NZ in this expiry.
Range: 12850 to 13250
Type: On balance only just bullish