The DAX reversed losses from the previous session as it rose 0.44% on Thursday. The Eurozone industrial production figure declined by 0.5% and German final CPI data came in at 0.2% . Both figures were in line with forecasts however reflect the burden global trade tensions have placed on the Eurozone economy. The release of retail sales and consumer confidence report out of the US should have an influence on the DAX today while trade headlines will continue to impact market sentiment.
The DAX ended higher at 12169 on Thursday as it trades within the bounds of the Bollinger bands. The price managed to extend gains above the 20-period MA at 12140 which should determine near-term direction during the day. A sustained move above this level would maintain the upside bias and target the key resistance at 12225. Below 12140, the price will target the support at 12050 which if broken would signal a lower move towards the 12000 level separating the DAX from negative territory.