Stagnation on DAX is still on. Fifth session in a row during which range of index was almost flat. In these conditions only daytraders can earn something and these who want to follow trend are losing. Monday’s session ended with gains both on DAX and DAX futures what is great success of bulls. EURUSD was gaining and getting close to 1.1450 area and US session was really weak. Eventually all major European indices ended session with small volatility: CAC40 +0.22%, FTSE100 -0.07%, DAX +0.63%.
As I mentioned above US indices ended with decreases: S&P500 -0.27%, NASDAQ -0.36%. It is worth to notice that on Monday quarterly reports season started in the USA and during that time most of the time investors have good moods. On Tuesday we knew German CPI data, there was no surprise over here.
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DAX future is generating more movement than regular DAX. After morning’s try of drop price and attack on 9,500 pts there was quick rebound and exit above local resistance at 9,680 pts. Bulls managed to stay above this level, however futures ended lower.
- Resistances: 9,680 pts, 9,770 pts, 9,850 pts.
- Supports: 9,600 pts, 9,500 pts.
