After big sell-out on Tuesday, Wednesday was quite calm. Bullish rebound was not so strong as we could count on after 4% drop on Tuesday. Session was on plus, so bulls hope that trend line will be defended.
German indices mostly gained DAX +0.44%, MDAX +0.46%, TECDAX +0.79%, SDAX -0.08%. 23 of 30 DAX companies gained, the most: Volkswagen +5.19% and Lufthansa +3.94%. In the beginning of the week Volkswagen lost 30%, so yesterday’s gain was only a correction. 7 companies lost, the most Infineon -2.05%.
The closest supports: 9,560, 9,500, 9,400. The closest resistances: 9,700, 9,780, 9,880.
On Wednesday there was publication of data about sentiment of investors:
- Institutional: bulls – 51%; bears – 29%, neutral – 20%.
- Private: bulls – 55%, bears – 30%, neutral – 15%.
Last week number of neutral investors dropped and the number of bulls increased. Bulls on DAX are dominating since April when started drops on DAX. This sentiment should stay for some time.
