Tuesday, March 19, 2019

DAX30 - 19 March 2019

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Fundamental Highlights

German stocks were mixed after the close on Monday as some sectors were up while losses in other sectors led shares lower. At the close in Frankfurt, the DAX30 lost 0.25%. Today, European shares are expected to open slightly lower following Asian equity markets lower, as the US Federal Reserve starts its two-day monetary policy meeting. Close attention will be paid to any plans to run down the balance sheet and the Fed's economic forecasts. The prospect of low rates for longer is good for equities, as firms benefit from lower borrowing costs.

Technical Analysis

The German stock index was unable to hold its gains yesterday as the bears took control ending the day slightly below its opening price. After trading down to €11636 during the day, the index bounced off the key technical support level at €11653 (S1). The failure to close below this line might increase that levels importance as support going forward. From a technical perspective, the trend is still clearly bullish, showing an intact uptrend in the short-term. Buying could accelerate should prices move above the nearby swing high and resistance level at €11726.

Support: 11640/11540
Resistance: 11730/11780

Chart (H4)
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