Monday’s session wasn’t too attractive to investors. There were no important macro data and investors were looking for transactions anywhere. the only volatility that mattered was on oil which was at the lowest level since March 7th. Volatility on indices was very small. DAX started session with small decline and later it was near session’s high at 9,910 pts and tested resistance at this level.
DAX gains were possible because of EURUSD decrease and S&P500 futures appreciation. Situation turned around at noon, when EURUSD started to gain and S&P500 during the session didn’t play well. As a result European indices ended with small gains: French CAC40 +0.53%, English FTSE100 +0.30%, German DAX +0.28%. 18 out of 30 DAX companies gained some value, the most Merck +3.44% and RWE +3.09%. 12 companies depreciated, the most Continental -1.28% and Lufthansa -1.00%. The end of session in the US disappointed, but decrease was too small to influence Tuesday’s session in Europe: S&P500 -0.32%, NASDAQ -0.46%.
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Attack on 9,910 pts resistance on DAX future failed and as a result index dropped to 9,770 pts support area. The closest supports: 9,770 pts, 9,680 pts, 9,600 pts. The closest resistances: 9,850 pts, 9,910 pts.
