Wednesday, November 14, 2018

DAX30 - 14 November 2018

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Fundamental Highlights

The DAX rose on Tuesday as investors cheered reports of progress in the Brexit negotiations and the resumption of trade talks between the US and China. Today, however, the index may open lower after energy stocks led a late-afternoon sell-off on Wall Street overnight. The European economic calendar stands busy, with several countries including Germany reporting GDP figures for the third quarter later. Trading may also be impacted by the reaction to the US Labor Department's report on consumer prices for October.

Technical Analysis

Technically speaking, prices traded within the prior day's range yesterday unable to trade above the previous day's high but ended up closing below the 20-day moving average and breaking through the support level now resistance at 11450. Selling could accelerate today should prices move below the nearby swing low at 11310 - 11300.

Support: 11250/ 11050
Resistance: 11450 / 11660

Chart (H4)

dax

 
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