Despite decreases in Asia Thursday’s session started in good moods. Faith in Mario Draghi was strong and European bulls didn’t bother about slight fall of S&P500 futures and flat EURUSD. As it turned out optimism was justified. Although during Thursday’s ECB meeting there was no new decisions, but Draghi said that actions are predicted for March meeting because inflation is far away ECB expectations. Draghi said that they had a lot of possibilities to act and in March QE will be raised. Press conference was accepted with a lot of enthusiasm and European indices ended day in the green zone. FTSE100 +1.77%, CAC40 +1.97%, DAX +1.94%. The same enthusiasm didn’t show up on American stocks, gains were much smaller: S&P500 +0.52%, NASDAQ +0.01%. 28 out of 30 DAX companies gained some value, the most: RWE +6.08%, Volkswagen +5.54%, Lufthansa +4.37%, E.ON +4.36%, only Adidas (-1.80%) and Deutsche Bank (-3.36%) lost.
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Thursday’s session was supposed to be in shadow of one event and that indeed happened. However in the evening oil were on everyone’s minds. In short time price of Brent gained from 27.50 to 29.80. Partly it was because information about US oil storage. Friday’s morning on the stocks is awesome: Japanese NIKKEI225 appreciated +5.88% and made for last two sessions losses, good situation also on Chinese stocks. Bulls are helped by gain of S&P500 futures (+1.24%) and weakening of EURUSD which has problem after yesterday’s meeting to leave support at 1.0810 area.
Technically on DAX futures we can see dynamic rebound from support at 9,300 pts but we should be aware that in longer time there can be another low and situation can be changed by next week FED meeting. The closest resistances: 9,770 pts, 9,870 pts, 9,970 pts, 10,120 pts, supports: 9,660 pts, 9,54 pts, 9,440 pts.
