Yesterday in the US bulls were dominating, what improved optimism in Europe too. Gains on Wall Street were more than 1% which mean today’s session can start a little higher in Europe. German indices ended mostly with gains – DAX +0,56%, MDAX +0,54%, TECDAX +1,03%, only SDAX dropped (-0,37%). On DAX30 stocks a lot of variance. 21 companies gained, one is the same, 8 dropped. The biggest gains: Infineon (+3,22%), Deutsche Post (+2,41%), Deutsche Bank (+2,29%), BMW (+2,21%). The biggest losses – E.ON (-6,15%), RWE (-3,31%), K+S (-5,17%).
Technically nothing changed since yesterday. 10,500 level caused reaction of the bulls and DAX moved to north. How strong the rebound will be depends on Wall Street situation, there is a chance to go up to 10,600 pts without change of sentiment. On the daily chart we can see small candle with high volume. On H1 futures chart I pointed the nearest supports and resistances. If DAX Future will manage with current level of 10,280 the next targets will be 10,400 and 10,600 levels.
