The DAX 30 enjoyed a decent recovery rally on Friday. Traders were inspired by hopes of a speedy breakthrough in the US-Chinese tariff dispute, and then buoyed further by a strong US employment report. NFP eased some of the recent concerns over the global economy. However, at the same time, the US Federal Reserve (Fed) signaled a cautious monetary policy. Standard.
So after the rollercoaster ride at the beginning of the year traders hope for a general recovery on the stock markets. The markets are currently caught in a state of anxiety, but perhaps there is no need to be too pessimistic. If we consider the losses of the Dax in December, there is a relatively large potential for a continued recovery rally.
Looking even further back, the year 2018 was a very negative year for the DAX30. It was the first major losing year since 2011 and the biggest loser since the global financial crisis ten years ago. In the first three trading days of the new year, the DAX30 made little progress. So we are due for some momentum.
Looking forward the stock markets could catch the tailwind from the trade talks between the USA and China, which are due at the beginning of this week. A US delegation is expected to attend “positive and constructive discussions” in Beijing on Monday and Tuesday, the Chinese Ministry of Commerce said. We do not expect a breakthrough, but the potential for positive surprises is there.
07-01-2018 Dax Charts
07-01-2018 Key Levels
|Point of Control :||10607||6844||23413||3049|
|Value Area High :||10782||6867||23523||3055|
|Value Area Low :||10560||6778||22961||2999|
|Camarilla Breakout (Bull)||11000||6918||23925||3095|
|Camarilla Breakout (Bear)||10619||6763||22894||3003|
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