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DAX index Breaks Above the 200 Day MA

DAX index Breaks Above the 200 Day MA
DAX index Breaks Above the 200 Day MA

DAX index trading 0.67% higher at 11,638 as trader’s hope of more stimulus from central banks around the globe. European Monetary Union Consumer Price Index (YoY) came in at 1% missing expectations of 1.1% in July. The German GDP shrank by 0.1% in the second quarter from the previous quarter as expected. Eurozone GDP growth slowed from 0.4% during the first quarter to 0.2% in the Q2, 2019.

DAX index rebounds today from two month lows, helped by Deutsche Bank AG +3.07%, Infineon AG +2.19%, Thyssenkrupp AG +1.74%, and Bayer +2.15%. On the other hand, RWE AG is -0.89% lower while Beiersdorf AG is 0.01% lower.

DAX regains the 200 day moving average and now bulls are in control for the short term.  Immediate support for the DAX index stands at 11,386 the low from March 27th while extra bids will emerge at 11,000 round figure.  On the upside immediate resistance stands at 11,717 today’s high and then at 12,100 the 100 day moving average.

In London the FTSE 100 adds 0.77% at 7,178, while CAC 40 is 0.76% higher at 5,340. In Wall Street, Dow Jones futures is 0.93 percent higher at 26,158 while the S&P is 0.93 percent higher at 2,918 while Nasdaq is 1.07% higher at 7,692.Don’t miss a beat! Follow us on Telegram and Twitter.

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