Thursday, February 14, 2019

DAX30 - 14 February 2019


Fundamental Highlights

The DAX index rose 0.37% led by positive price action in US equities as trade headlines suggest a positive outcome from US-China trade negotiations set to begin today. While global sentiment has improved, Brexit developments remain a matter of concern as parliament is set to meet today and debate on how the UK shall move forward.

Technical Analysis

The DAX index is currently ranging within the bounds of 11230-11130 whilst struggling to extend its rebound from last week’s low of 10860. While there is room for the index to move higher, the near-term bias is neutral and a bearish outlook remains in play so long as price fails to take out resistance at 11380.

Support: 11120/ 11050
Resistance: 11230/ 11320

Chart (H4)