Yesterday at night there was data published about Chinese trade balance. Import decreased by 20.4% in September and is much worse than expected. Drop of the import mean that main exporters to China sell less goods to China (for example Germany). After start of session in Germany data about investors sentiment was published in Germany. Another disappointment, it was much worse than expected, it decreased by 1.9 pts to 23.1 pts. DAX managed to stay above 10,00 pts despite bad data. S&P500 helped in that, but if Wall Street index start to drop, the same will be in Germany.
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All German indices decreased: DAX -0.86%, MDAX -1.61%, TECDAX -1.66%, SDAX -1.31%. 27 out of 30 DAX companies lost value, the most: RWE -5.67%, E.ON -4.63%. Only 3 companies gained, the most SAP +5.39%. Currently you can trade on DAX only intraday in the area between support and resistance.
DAX FUTURE H1:
- supports: 9,940, 9,880 pts;
- resistances: 10,060, 10,180 pts.
