Friday, November 2, 2018

DAX30 - 02 November 2018


Fundamental Highlights

Germany's import price inflation eased more-than-expected in September, figures released earlier today by Destatis revealed. Import prices climbed 4.4% year-on-year in September, slower than the 4.8% increase in August and the expected growth of 4.5%. Looking ahead, Final PMI reports are due from France and Germany later in the session today.

Technical Analysis

The DAX pushed through key technical resistance levels and is now trading above the 200-period moving average, and the 20-day moving average. However, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Looking ahead, the RSI looks bearish suggesting selling pressure ahead targeting the 11460 resistance now turned support.

Support: 11460 / 11055
Resistance: 10815 / 12185

Chart (H1)