Thursday, November 15, 2018

DAX30 - 15 November 2018


Fundamental Highlights

The DAX closed lower yesterday as lingering worries about slowing global growth overshadowed news that the EU and UK negotiators have reached a draft Brexit deal. Looking ahead, Germany is set for a relatively calm day on the economic data front today with major releases due being the UK retail sales and Eurozone trade data.

Technical Analysis

The DAX traded within the prior day's range yesterday unable to trade above the trendline on the 4H chart. Selling could accelerate today should prices move below the nearby swing low at 11310 - 11300 targeting the next key support level at 11,050.

Support: 11310 / 11050
Resistance: 11660 / 11825

Chart (H4)