After good end of week on Wall street on Friday and gains in Asia on Monday, Europe started session with great optimism. German DAX started with 117 pts bullish gap and then hit daily high at 10,041 pts. On one side EURUSD slightly decreasing helped bulls and on the other side depreciation of S&P500 index could stop bulls.
However breaking resistance at 9,910 pts last week let bulls have huge optimism and bears were powerless during yesterday’s session. On Monday there was no significant data and all major European indices gained – DAX +1.62%, French CAC40 +0.31%, English FTSE100 +0.57%. All 30 DAX companies gained some value, the most E.ON +3.15%.
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On Tuesday Japanese central bank can influence the markets with their report. In the afternoon we will know US PPI data. If resistance at 10,000 pts will be broken, next important one is on 10,130 pts. The closest support is at 9,910 pts.
