Tuesday’s session was very successful for all major indices. Particularly noteworthy is is S&P500 defending support at 2,040 pts and 1% gains after rebound. A lot of happening on S&P500 and oil. Bulls attacked resistance at 1.1440 on Eurodollar and it ended with deep decrease. We still wait for break out of consolidation between 1.1330 and 1.1440. Strong gains happened on oil. After news about agreement between Russia and Saudi Arabia and plan for cutting production oil gained 4%.
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The end of session was also positive on DAX. Bulls managed to break local resistance in 9,680 pts area and leave interesting lower wick on the chart. Small volume destroys good moods. DAX future is back above 9,770 pts resistance. Next resistances are at 9,850 pts and 9,910 pts. Supports are at 9,770 pts, 9,680 pts and 9,600 pts. On Wednesday there will be bunch of macro data publishing, both from US and Europe. As long as DAX will not come back above 9,910 pts we cannot say about change of sentiment to bullish.
