Summary of the session 12/07/2018
Growth on the German stock market reached 0.61% on Thursday and there is still a chance for a positive week’s closing during the last session on Friday 13th. Consumer inflation in Germany increased by 0.1 percent. m/m and 2.1 percent y/y, which was in line with analysts’ assumptions.
Naga Markets is an investment company licensed by CySEC, offering access to SwipeStox, a social app for traders, where they can share their trading ideas about Forex, stock indices and CFD’s thanks to simple professional investors’ transaction mirroring.
Among the components of the DAX index, the best result was recorded by Fresenius Medical Care, which gained 2.09%, while in the meantime, Linde closed above the 1.77% mark. The worst result was Commerzbank falling 1.24%, while Deutsche Post lost 0.25%.
The better moods after yesterday’s opening with a bullish gap were maintained during the session, and declines in the area of 12,400 points were used to buy. Today the situation is similar, the market presents relative strength, accompanied by Wall Street, where the SP500 at night broke above the June peak of 2800 points.
DAX after 9:00 is above the monthly pivot, which should be considered as an incentive for growth, while intraday we have local resistance at 12,535 points and the upper limit of the channel. The transition above can mean an attempt to attack the Wednesday’s gap – 12,600 points.