Monday’s session ended with decreases. In the beginning of session DAX tried to attack 11,000 pts level and when it reached it that was just a start for decreases. It wasn’t dynamic, till beginning of Wall Street index lost less than 50 pts. But then weakness of Americans pushed bears on DAX and it reached first important support – 10,800 pts. Uncertainty on markets is still effect of December’s FED decision. It looks like it is the best moment to first hike of interest rates because of great job report last Friday. On the other side European investors are supported by ECB which is getting ready to another rates cut.
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Monday’s session ended with depreciation on all German indices: DAX -1.57%, MDAX -1.47%, SDAX -0.24%, TECDAX -1.00%. Only 2 out of 30 DAX companies gained value with ThyssenKrupp (+1.77%) on top. The biggest losses had tire company Continental after weak data – -5.29%. Another big decreases: RWE -3.96%, Vonovia -3.29%.
On DAX FUTURE index went a little below bullish trend line which was respected since the beginning of October. Decreases were stopped by first support on 10,800 pts, Currently resistance on 11,000 pts and support mentioned above are two most important levels, breaking either of them will start more dynamic moves.
