Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: DAX30 Daily Outlook

  • DAX index was trading flat yesterday and closed at 12309 0.01% higher. US markets declined slightly after showing a more than 1% jump. Dow and S&P500 closed at 24682 (0.18% lower) after Fed monetary policy. S&P500 futures is trading slightly positive and is at 2716 0.12% higher. Asian stock indices was trading mixed after Fed rate hike.
     
  • Fed raises interest rate by 25bpbs and dot plot continued to project 3 rate hikes in 2018). US dollar declined sharply after US Fed dot plot. Fed has upgraded US economic projection and signals faster pace in 2019.
     
  • DAX index has formed a minor top around 12605 and started to decline from that level. The index should close above 200- day MA at 12723 for further bullishness.             
              
  • The minor bullishness can be seen only if it closes above 12326 (20- day MA) and any close above will take the index to next level till 12500/12605. It should break above 12715 for further bullishness.
     
  • On the lower side, near term major support is around 11800 and any close below will drag the index till 11400/11000.The minor support is around 12000.

It is good to buy on dips around 120100-150 with SL around 11975 for the TP of 12600/12715.

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.