DAX Testing Support at 200 Day MA
DAX index trading 0.51% lower today at 11,670 as investor’s getting mixed signals from the USA – China trade war. The Germany Gfk Consumer Confidence Survey came in at 9.7, topping forecasts of 9.6 in September, while the Import Price Index (month over month) came in at -0.2%, below forecasts of 0% in July.
DAX index getting a hand by Henkel +0.99% Deutsche Telekom AG 0.54%, and Linde 0.09%. On the other hand, SAP is -1.49%, Infineon -1.25% and RWE is -1.04%.
DAX consolidates after recent correction and has formed a triangle that signals the price might continue for lower level. The index today testing the 11,659 the 200-day moving average. Immediate support for the DAX index stands at 11,642 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 11,717 today’s high and then at 12,102 the 100 Day moving average.
In London the FTSE 100 adding 0.37% at 7,115, while CAC 40 is 0.48% lower at 5,360. In Wall Street, Dow Jones futures is 0.06 per cent higher at 25,765 while the S&P is 0.14 per cent higher at 2,869 while Nasdaq is 0.07% higher at 7,568.