Thursday, October 11, 2018

DAX30 - 11 October 2018

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Fundamental Highlights

The DAX fell hard on Wednesday, losing 316.9 points and closing at 11645.9, as growth worries persisted and Italian bond yields rose again on fears of a possible downgrade of the country's debt by credit agencies amid a budget standoff with Brussels. Investors also remained concerned about China's economic slowdown after U.S. President Donald Trump repeated a threat to impose tariffs on $267 billion worth of additional Chinese imports if Beijing retaliates on the first round of tariffs. In economic news, the ECB will release the details from its August policy meeting at 11:30 GMT.

Technical Analysis

The Dax registered a new low – since February 2017 - on a closing basis , clearing the way for further downside movement as momentum indicators show strong bearish momentum on the Daily, 4H, and 1H timeframes.

Support: 11435.9 11033 10817.4
Resistance:.11706.2 11898.4 11997

Chart (H1)
dax

 
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