A lack of significant economic data and subdued trading volume left the DAX index directionless and marginally lower on Monday. Today Germany and the Eurozone release ZEW economic sentiment and should provide further insight on the region’s economic outlook. Moreover, price action in the DAX index will be led by news-driven sentiment and cues from global markets.
The DAX index ended at 11299 on Monday and is currently above the 11250 level separating it from selling pressure. Failure to sustain above that level will target the lower support level at 11130. On the other hand , a sustained move above 11270 will keep the index ranging before retesting resistance at 11380 and deciding on further direction.
Support: 11250/ 11130
Resistance: 11380/ 11485