Monday’s session started without any confident moves. On one side there were decreases in China and on the other gains in Japan. Macro calendar was quite full, all day there were publications of PMI data of many countries. Manufacturing PMI in Germany was better than expected and Eurozone was as expected. Despite good data DAX was not in mood for appreciation and was moving down almost whole session. During this time EURUSD was slightly gaining and oil was moving down.
Rebound on DAX happened after clear rebound in the US. Eventually the most important European indices ended day with small decreases: English FTSE100 -0.39%, French CAC40 -0.56%, German DAX -0.41%. 18 out of 30 DAX companies depreciated, 2 ended on zero and 10 gained. The biggest increases: Lufthansa +3.04%, E.ON +1.72%. The biggest losses: Linde -1.57%, BMW -1.55%.
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On Tuesday we will know German data about unemployment and Eurozone PPI. Looking technically on the chart we can see consolidation. Since January 22nd DAX future moves in small range between support at 9,580 pts and resistance at 9,870 pts, which was broke only for a moment on last Wednesday. The closest supports: 9,690 pts, 9,580 pts, 9,440 pts, 9,300 pts. The closest resistances: 9,870 pts, 9,970 pts, 10,120 pts.
