Tuesday’s session was very unfortunate for German bulls. DAX decreased almost 1.5% and without problem broke support on 11,000 pts level. It was partly because of the situation in the world. Terrorists in Brussels haven’t been caught, in addition Turkish army shot down Russian jet. Moscow reacted with threats what also worsened moods on the markets. Even good German and US data didn’t improve situation.

All German indices ended day with losses: DAX -1.43%, MDAX -1.50%, SDAX -1.35%, TECDAX -1.75%. 29 out of 30 DAX companies decreased, the most Infineon -4.56%, Lufthansa -3.98%. Only Volkswagen gained much (+5.46%) after information that “VW can manage costs of dieselgate”. Company said that in many cases they just had to improve software without additional costs.

Looking back at Monday session – depreciation means going back below bullish trend line, the break looks now like a fakey. Today there will be a lot of data published and tomorrow US are celebrating. There is a lot of chance that Wall street today will gain. For DAX next resistance is at 11,000 pts and the closest 10,880 and 10,800 pts.

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