DAX Higher for Second Day on Improved Sentiment
DAX index trading 1.05% higher at 11,961 with investor’s optimistic that trade war tensions between US and China are easing. Germany Retail Sales (month over month) came in at -2.2% below expectations of -1% in July, the yearly reading increased to 4.4% in July from previous -1.6%.
DAX index getting a hand by Vonovia +5.42%, Daimler +2.60%, Deutsche Boerse AG +4.30% and Infineon +1.87%. On the other hand, Fresenius is -0.82%, and Bayer -0.04%.
DAX breaks today above the recent triangle formation giving the bulls hope for higher levels. Immediate support for the DAX index stands at 11,845 today’s low and then at 11,289 the low from August 15th while extra bids will emerge at 11,000 round figure. On the upside, immediate resistance stands at 11,971 today’s high and then at 12,092 the 50-day moving average.
In London the FTSE 100 adding 0.66% at 7,231, while CAC 40 is 0.92% higher at 5,500. In Wall Street, Dow Jones futures is 0.63 per cent higher at 26,546 while the S&P is 0.62 per cent higher at 2,944 while Nasdaq is 0.64% higher at 7,761.