Talking Points The DAX 30 maintains a bullish bias above last week’s low of 9397. We keep an eye ...
Talking Points
The DAX 30 maintains a bullish bias above last week’s low of 9397.
We keep an eye on European bank shares as financials weigh heavy on the DAX.
Volatility in the DAX may pick up this afternoon, following the publication of the University of Michigan Confidence report.
The DAX 30 is slightly lower in relation to this week’s high of 10.068, but it keeps its bullish bias since mid-February. The overall trend is bullish above the ECB rate meeting low of 9397.
We note that Financials have been weighing on the DAX 30 and we will be keeping an eye on the shares of European banks such as Deutsche bank, HSBC, and BNP Paribas. These shares have traded lower in the aftermath of last week’s ECB rate cuts. Should the bank shares resume their bearish trend, then this may hint at a weaker DAX 30.
For now though, the trend is buoyant above last week’s low of 9397 and price might reach the January 13 high of 10,166, followed by the January 5 high of 10,395.
As highlighted yesterday, the pullback in the DAX may, in the current environment of easy monetary policy by central banks, be perceived as an opportunity to add to long positions.
Should the DAX slide below last Thursday’s low of 9397 however, then the trend may turn bearish and reach the February 24 low of 9122, followed by the February 11 low of 8705.
Volatility in the DAX may pick up this afternoon, as the University of Michigan Confidence report is published and on speeches by Fed's Dudley and Rosengren. The day concludes with the Baker Hughes U.S. Rig Count. See our economic calendar.
The DAX 30 maintains a bullish bias above last week’s low of 9397.
We keep an eye on European bank shares as financials weigh heavy on the DAX.
Volatility in the DAX may pick up this afternoon, following the publication of the University of Michigan Confidence report.
The DAX 30 is slightly lower in relation to this week’s high of 10.068, but it keeps its bullish bias since mid-February. The overall trend is bullish above the ECB rate meeting low of 9397.
We note that Financials have been weighing on the DAX 30 and we will be keeping an eye on the shares of European banks such as Deutsche bank, HSBC, and BNP Paribas. These shares have traded lower in the aftermath of last week’s ECB rate cuts. Should the bank shares resume their bearish trend, then this may hint at a weaker DAX 30.
For now though, the trend is buoyant above last week’s low of 9397 and price might reach the January 13 high of 10,166, followed by the January 5 high of 10,395.
As highlighted yesterday, the pullback in the DAX may, in the current environment of easy monetary policy by central banks, be perceived as an opportunity to add to long positions.
Should the DAX slide below last Thursday’s low of 9397 however, then the trend may turn bearish and reach the February 24 low of 9122, followed by the February 11 low of 8705.
Volatility in the DAX may pick up this afternoon, as the University of Michigan Confidence report is published and on speeches by Fed's Dudley and Rosengren. The day concludes with the Baker Hughes U.S. Rig Count. See our economic calendar.
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
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The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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