On Monday we experienced flat session on DAX. Move range was not bigger than 100 pts (different situation was on DAX futures, but I will say about it later). In the background oil decreased strongly (Crude -6.33%), EURUSD was a little rising and there was nothing going on in the macro calendar.
Session’s high was in the opening at 9,816 pts and that was all power bulls showed that day. Bears also weren’t too active and eventually DAX closed with slight depreciation -0.29%. Similar situation on other European indices: French CAC40 -0.58%, FTSE100 -0.39%. Session in US ended much worse so we should expect weak beginning of Tuesday’s session in Europe. 15 out of 30 DAX companies gained some value and 15 lost. The biggest sellout we could see in the bank sector. Deutsche Bank said that in 2015 it lost 7.3B USD. On Monday’s session the score of DB was -5.52% and Commerzbank also lost (-3.60%). Medical industry had great session: Fresenius Med +2.51%, Fresenius SE&Co +2.18%.
Terrible situation on DAX future on H1 time frame. Outside Bar was totally covered by Monday’s bearish one. The closest supports: 9,660 pts, 9,440 pts, 9,300 pts; resistances: 9,770 pts, 9,870 pts.
