German shares set to follow Asian peers higher today, even as sentiment may remain cautious amid concerns about rising interest rates, slowing global growth and anxiety over peaking corporate earnings. Investors today will monitor news out of Asia, where U.S. Vice President Mike Pence will participate at the U.S.-ASEAN Summit, as well as developments in the U.K.
DAX finished the week 0.09% higher at 11529. The market managed to reverse during the session as bulls took control ending the day above its opening price. Today's gap opening up confirms the bulls are still in control of the action with the RSI looking bullish as well. Buying could speed up should prices move above the resistance level at 11666 where stops might get triggered.
Support: 11425/ 11055
Resistance: 11666 / 11820