DAX session on Thursday started with 100 pts bullish gap as expected. Just before session’s start German CPI and GFK was published and it was better than expected what gave extra power to bulls.
Great mood was destroyed in the beginning of US session when S&P500 after good start went down. It was caused by confusing data. On one side number of unemployed is higher but on the other side factory orders were good. Investors didn’t new in the beginning how to interpret this and when Europe ended session US indices were close to zero. French CAC40 +2.24%, English FTSE100 +2.48%, German DAX +1.79%. 29 out of 30 DAX companies gained some value, the most Fresenius Medical +4.71%, Merck +4.39%, Deutsche Post +4.28%.
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it looks like today’s session start will also be good, because eventually there were some gains on Wall Street. If S&P500 will go above 1,950 pts it will be positive sign for bulls and maybe today there will be a chance to break this level.
On D1 chart there is bullish inside Bar pattern. Additionally bulls managed to came back above 9,300 pts and another time we can see how big influence Wall Street have on DAX. The closest resistances for DAX future: 9,450 pts, 9,600 pts, supports: 9,300 pts, 9,100 pts.
