Beginning of Monday’s session was very nervous and brokers which have possibility of trading since midnight saw DAX Futures below 10,500 pts. It calmed down fast and after test of 2,000 pts by S&P Futures gains started. The top of DAX happened just after inflation data in Eurozone. Data was better than expected but it doesn’t seem to be good for German stocks because ECB can say that further easing in December is not needed.
Eventually all German indices ended day with gains, just main one was around zero: DAX +0.05%, SDAX +0.67%, MDAX +0.81%, TECDAX +0.89%. 19 out of 30 DAX companies gained some value, the most Vonovia +2.24%, Merck +1.96%. The biggest losses had Lufthansa -2.28%.
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On DAX FUTURE we can see test of support at 10,500 pts and dynamic rebound with passing level 10,700. On Tuesday DAX futures try to break 10,800 pts, if it will be successful there will be move in direction of 11,000 pts. If there will be rebound next support is at 10,700 pts.
