Beginning of European session started in shadow of mixed data. On the one hand Asian session ended with gains both for Chinese Shanghai Composite (+1.14%) and Japanese NIKKEI225 (+0.42%). On the other hand not so good PPI in Germany. Expectations about inflation were -1.8% y/y but it was even less (-2.1%). This is just another small news before Thursday’s session of ECB.

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On Tuesday there were speeches of three FED members (even Janet Yellen), but they didn’t mentioned interest rates so there was no influence on the markets. All German indices ended with small decreases: DAX -0.16%, MDAX -0.11%, SDAX -0.07%, TECDAX -0.06%. 22 out of 30 DAX companies lost some value, 1 didn’t change value and 7 had profit. The bigger gains: RWE +2.04%, E.ON +1.84% and Deutsche Telekom +2.18%. The biggest losses: Beiersdorf -1.66%, Deutsche Bank -1.39%, Merck -1.38%.

Since October 7th daily bars on DAX have small bodies and two-sided wicks.  It looks like we are waiting for impulse which will show investors direction of movement. Supports: 10,120, 10,050 pts. Resistances: 10,180, 10,330 pts.

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