Friday, July 20, 2018

DAX30 - 20 July 2018

  • Euro
  • Stocks
  • DAX

Fundamental Highlights

The DAX closed lower yesterday but considering the fact that the index has been bullish and rising for much of the week, it is only natural for the market to take a rest and consolidate. No major fundamental or economic news on the grid today except for the Eurozone's current account figures at 12:00pm (UTC+3). We can safely expect some consolidation to happen in the markets for the short term.

Technical Analysis

The index closed the day above the support at the €12,640 which should continue to give some confidence to the bulls. The RSI points towards a possible bullish price movement back towards the €12,700 to €12,800 resistance area.

Support: 12640 12410
Resistance: 12800 13150

Chart (H1)