Sunday, August 12, 2018

DAX 30 - 13 August 2018


Fundamental Highlights

European markets ended Friday's session firmly in the red after the European Central Bank raised concerns over the impact of a weak lira on European banks. The Turkish lira hit a fresh record low early Monday after closing down as much as 16% on Friday as US President Donald Trump doubled steel and aluminium tariffs on Turkey, raising concerns the country may plunge into a financial crisis.

Technical Analysis

The German Index sold off quite heavily on Friday and is expected to open around its 13350 resistance today. The RSI looks mixed to bullish signaling a correction back up to the 12500 level.

Support: 12500 12385
Resistance: 12725 12888

Chart (H4)