As expected DAX started yesterday with bullish gap which was as big as 215 pts. Around noon it hit high on the level of 10,833 pts and then the price was moving down. Gains were helped by weaker EURUSD but investors were also bothered by problems with S&P500. Eventually German indices appreciated quite strong despite weak Wall Street: DAX +2.57%, MDAX +1.04%, SDAX +1%, TECADX +1.52%. 28 out of 30 DAX companies gained yesterday, the most Volkswagen +4.26% and Bayer +4.04%.
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As if there were few major events this week today is third Friday of the week. It means that today is Three Witches day so the December’s series of futures is going to expire. As always there will be huge volume and a lot of volatility on the markets. DAX should move between support at 10,650 and resistance at 10,880 pts. The closest resistances on DAX future are at 10,810 pts, 10,880 pts and 11,000 pts and the supports at 10,710 pkt, 10,650 pkt, 10,480 pkt.
