Dax to 13600
Dax flirts with all time high
Share this:
The German Dax led the charge northwards in Europe, rallying an impressive 1.3%, pushing to close near the key psychological level of 13500. The swift advance has brought the Dax’s all-time high of 13600 squarely back into view.
Stronger than forecast German industrial production figures have helped buoy sentiment, particularly after yesterday’s dismal German factory orders data. Industrial production month on month came in at 1.1% in November, ahead of expectations of 0.7%. The yearly reading also beat forecasts at -2.6%.
The upbeat data combined with ebbing tensions in the Middle East and the expected signing of a phase one US – China trade deal next week has given Dax bulls plenty to cheer. It is a question of when, not if the Dax will reach a fresh all-time high. The answer is looking to be sooner rather than later.
Levels to watch:
Dax jumped to a fresh two year high and is currently sitting at 13500. Today’s solid gains support the bullish outlook for the Dax which is trading above its 50, 100 and 200 sma.
Near term resistance is today’s high of 13521, followed by the all time high of 13596 (January 2018).On the flipside immediate support can be seen at 13467, today’s low, followed by 13110, the low from the previous session.
The outlook here is bullish. Although an escalation in geopolitical tensions could put pressure back on the Dax.
The German Dax led the charge northwards in Europe, rallying an impressive 1.3%, pushing to close near the key psychological level of 13500. The swift advance has brought the Dax’s all-time high of 13600 squarely back into view.
Stronger than forecast German industrial production figures have helped buoy sentiment, particularly after yesterday’s dismal German factory orders data. Industrial production month on month came in at 1.1% in November, ahead of expectations of 0.7%. The yearly reading also beat forecasts at -2.6%.
The upbeat data combined with ebbing tensions in the Middle East and the expected signing of a phase one US – China trade deal next week has given Dax bulls plenty to cheer. It is a question of when, not if the Dax will reach a fresh all-time high. The answer is looking to be sooner rather than later.
Levels to watch:
Dax jumped to a fresh two year high and is currently sitting at 13500. Today’s solid gains support the bullish outlook for the Dax which is trading above its 50, 100 and 200 sma.
Near term resistance is today’s high of 13521, followed by the all time high of 13596 (January 2018).On the flipside immediate support can be seen at 13467, today’s low, followed by 13110, the low from the previous session.
The outlook here is bullish. Although an escalation in geopolitical tensions could put pressure back on the Dax.
Related tags:
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500 forecast: Stocks extend drop as correction risks grow
US and global equity markets have extended Wednesday’s sell-off, with Wall Street opening lower after a weak handover from Asia and Europe. The deterioration in risk appetite has been spreading across global markets. The dollar was firmer, Treasury yields were holding onto yesterday’s gains, while gold, silver and bitcoin were all under pressure alongside equities and major currencies.
Nikkei threatens breakout as tech rebound broadens
Breakouts across the SOX and Nasdaq are being matched by rebounds across Asia, with the Nikkei now threatening to join the move.
Nasdaq 100 Forecast: Confidence Returns as the Index Challenges Record Highs
The trading week is getting underway with renewed bullish momentum across Nasdaq. This is reflected in today's session, where the index has gained more than 2.5%, highlighting a buying bias that has not been observed with this level of strength in several weeks.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.