Monday, September 10, 2018

DAX30 - 11 September 2018


Fundamental Highlights

After 7 consecutive reds, the DAX ends Monday's session with a green close above 12000 as the far-right failed to make as large gains as expected in the Swedish elections thus dampening a "Swexit" prospect, although trade-exposed sectors like autos suffered after U.S. President Donald Trump raised the stakes in the trade dispute with Beijing. In economic news, we have the EU and the German ZEW Economic Sentiment data coming up today at 9:00 GMT.

Technical Analysis

Technically speaking,  the DAX bounced back from our 11895.6 support level, printing higher lows, and breached  the 12000 level. 11,989 level to be treated as our line in the sand for today's trading session, awaiting the close of the 4H candle to confirm or reject bearish continuation.

Support: 11,895.6 11,704.4
Resistance: 12,106.7 12,247.6

Chart (H1)