Tuesday’s session was very frustrating for traders on DAX. Opening with almost 200 pts bullish gap, and then whole session of moves in consolidation narrower than 100 pips. The beginning of session was set by Asian markets. Chinese stocks gained more than 3% and futures on S&P500 came back above 1,900 pts what cause great optimism in Europe.
Although in the end of session moods got worsened because EURUSD came back above 1.0900 with dynamic candle and first gains in the US started to melt, but it didn’t bother European indices to end with nice score. French CAC40 +1.97%, English FTSE100 +1.68%, German DAX +1.50%, and the leader was German technology index TECDAX +3.54%. Among DAX companies real hit were energy sector companies after words of federal minister Sigmar Gabriel who said: “I am against moving away from carbon as energy source, and we should talk about carbon future with less ideology”. In the result both RWE (+8.66%) and E.ON (+7.64%) had great session. 29 out of 30 DAX companies appreciated, the most (of course except mentioned above) Adidas +3.07%, only one company lost on Tuesday – Volkswagen -0.23%.
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After end of session DAX futures closed morning’s bullish gap. The closest supports: 9,420 pts, 9,300 pts, resistances: 9,770 pts, 9,970 pts.
