Dax index rose in early trading after two consecutive days of loses with travel and entertainment stocks leading the gains. Investors fears start easing as some countries begin lifting the lockdown measures. Germany would be loosening some of the restrictive measures and plan to open the schools in early May. Robert Koch Institute reported that the confirmed coronavirus cases rose to 130,400, with a total of 3,560 deaths reported.
The Germany CPI came in at 1.4% in March in line with forecasts; the Wholesale Price Index came in at -1.5% below the expectations of -0.4%. The Harmonized Index of Consumer Prices came in at 1.3% in line with forecasts in March.
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Dax Index Technical Analysis
Dax index is 1.31% higher at 10,415, as investors trying to asses the lockdown period and how fast the economy will manage to rebound. Dax technical outlook has improved in the short term, but the longer-term picture remains bearish. Dax has recovered almost 26% of the recent lows.
On the upside, first resistance for Dax stands at 10,438 the daily high. A move above might test yesterday’s highs at 10,689. A move higher might challenge 10,818 the high from April 14.
On the flip side, initial support for Dax index stands at 10,335 the daily low. In case the selling pressure continues, the next support holds at 9,858 the low from April 6. Below 9,858 the next support will be met at 9,506 the low from April 3.
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