DAX Regains the 200 Day MA

DAX index started the week 0.44% higher at 11,662 as investor’s getting mixed signals from the USA – China trade war. The Germany IFO – Business Climate came in at 94.3 below expectations of 95.1 in August, the IFO – Expectations came in at 91.3 also below expectations of 91.5 in August.

DAX index getting a hand by Deutsche Lufthansa AG 2.60%, Infineon 0.90%, Adidas 0.87%, Thyssenkrupp AG 1.98%, Vonovia -1.01% and Daimler AG 1.66%. On the other hand, Vonovia is -2.01%, Fresenius SE -0.54% and BASF SE is -0.28%.

DAX on Friday breached the 200 day moving average as bears gaining momentum for the short term.  As of writing the index managed to break back above the 200 day moving average as buyers are taking control today. Immediate support for the DAX index stands at 11,551 today’s low and then 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 11,696 today’s high and then at 12,107 the 100 Day moving average.

In Paris the CAC 40 is 0.60% higher at 5,358. In Wall Street, Dow Jones futures is 0.68 per cent higher at 25,835 while the S&P is 0.50 per cent higher at 2,870 while Nasdaq is 0.87% higher at 7,569.