Thursday, October 4, 2018

DAX30 - 05 October 2018


Fundamental Highlights

The DAX fell on Thursday by 48.1 points, closing at 12225.7 as defensive stocks came under pressure after strong U.S. data lifted global Treasury yields to their highest since mid-2011, which in turn boosted Eurozone government bond yields, triggering a selloff in global equity markets and raising concerns for emerging markets. In economic news, German MoM and YoY PPI (Aug) released today, were higher than expected at 0.3% vs 0.2% and 3.1% vs. 2.9% respectively, awaiting German Factory Orders figures.

Technical Analysis

The DAX is trading in a consolidation range between our 12208.5 support level and 12344.9 resistance level, basing at the 12208.5 support while still trading below the 20, 50 and 200 period SMA adding resistance to bullish momentum. If price closes above 12265.5 in intraday trading, that will likely push prices higher to test the resistance level at 12344.9, while a brake below 12208.5 (i.e: index still trading below moving averages) will have prices to drop to our respective support levels .

Support: 12208.5 12172.7 12126.9 12049.5
Resistance:.12344.9 12407.4 12459.6

Chart (H1)