Wednesday, February 20, 2019

DAX30 - 20 February 2019


Fundamental Highlights

The DAX index made a modest gain of 0.09% to end at 11309. ZEW economic sentiment figures from the Eurozone and Germany remained in negative territory however beat this month’s estimates. While the Eurozone’s slowing economy weighs on sentiment, US-China trade talks continue to dominate investors’ attention for news of progress to send German equities higher.

Technical Analysis

The DAX index managed to sustain price action above the 11250 level while consolidating below the resistance at 11380. Failure to trade through 11380 will determine further direction for the index, while a break below the 11250 level will signal bearish price action in the near-term.

Support: 11250/ 11170
Resistance: 11380/ 11485

Chart (H4)