Thursday, February 21, 2019

DAX30 - 21 February 2019


Fundamental Highlights

The DAX index edged 0.89% higher to end at 11401. Optimism surrounding US-China trade negotiations has kept market sentiment afloat amidst rising concerns over the Eurozone’s economic performance. Today, investors are likely to monitor the release of manufacturing and services PMI reports of Germany and the Eurozone alongside global trade developments.

Technical Analysis

A rise in momentum pushed the DAX index past the resistance at 11380 and is looking to trade through the 11485 level to carve further gains. While price rises above the 20-period MA, a break well below the RSI support line would suggest short-term weakness and a move below the 11380 level.

Support: 11380/ 11270
Resistance: 11485/ 11570

Chart (H4)