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Bulls are Back as DAX Breaks Above 100 Day MA

Bulls are Back as DAX Breaks Above 100 Day MA
Bulls are Back as DAX Breaks Above 100 Day MA

DAX index trading 0.79% higher at 12,120 as investors concerns around no-deal Brexit ease. US and China trade negotiators have agreed to restart talks in early October. Germany Factory Orders n.s.a. (year over year) came in at -5.6% below expectations of -1.1% in July as the downward spiral of German industry continues.

DAX index getting a hand by Thyssekrupp +2.82, Infineon +5.20%, Continental +2.21% and Daimler +1.92%. On the other hand Vonovia is -1.29%, Deutsche Boerse -0.54%, Beiersdorf -0.43% and Deutsche Telekom -0.45%.

DAX breaks above the 100 day moving average at 12, as the bulls regain control. Immediate support for the DAX index stands at 12,084 today’s low and then at 11,852 the low from August 30, while extra bids will emerge at 11,676 the 50 day moving average. On the upside immediate resistance stands at 12,131 today’s high and then at 12,400 the high from July 30.

In London the FTSE 100 gives up 0.45% at 7,278, while CAC 40 is 0.84% higher at 5,578. In Wall Street, Dow Jones futures is 0.79 percent higher at 26,578 while the S&P is 0.71 percent higher at 2,959 while Nasdaq is 0.98% higher at 7,798.Don’t miss a beat! Follow us on Telegram and Twitter.

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