Yesterday’s session started with gains, but DAX Future reached resistance and bears started dominating. Index reached 10,335 pts and then dropped 150 pts. DAX ended session with gains (+0,38%) MDAX +0,97%, TECDAX +1,07%, SDAX -0,12%. Energy companies lost the most on DAX30 – RWE -4,78% and E.ON -6,39%. The biggest gains had Adidas (+2,22%) and Beiersdorf (+1,93%).
Today there will be the most important event of the month – FED decision about rates. If FED will not change anything, tomorrow we should see gains on the markets. If first raise of rates will happen, there shouldn’t be a crisis but tomorrow indices can go a little lower. More drops will begin after end of normalization of rates but it can take even few years.
DAX is moving in consolidation for one week already and only move above 10,400 pts or below 10,050 pts will show direction of change. In yesterday’s analysis I showed supports and resistances and nothing will change here.
