The German DAX outlook for today looks set to be quiet calendar-wise, but central banks will take the spotlight this week with the ECB (on Thursday) and Bank of Japan (Tuesday). We will also know more about the status of the global recovery with the release of flash PMIs for the euro area, the US, Japan and the UK (all Friday).
Equity markets will continue to focus on the earnings season, which is off to an encouraging start.
Producer prices in Germany decreased by 0.2% in December compared to the same month a year ago, the country’s national statistical office Destatis announced on Monday. On a monthly basis, the producer price index was up 0.1% compared to November.
See the video recording below for more detail on this chart. But the image here is the 60-minute German DAX 30 chart. On the chart, I have pulled three specific sets of lines. The first line set is the blue horizontal zone which highlights the recent tweezer top and engulfing candle pair. I’d to see what reaction we get when testing that zone from above. The second line set is the small upsloping channel, which started with the channel high and then completed by creating the parallel and connecting it to the recent low. The third and final line was the large upsloping line, which starts from the C point on the chart. Can you see the confluence zone, the zone where all three line sets are pointing? If we see a reaction there, it will be interesting.
DAX Key Levels
|Point of Control||13508|
|Value Area High||13517|
|Value Area Low||13495|
DAX Technical Analysis Video
Just to remind you that there will be no video this Wednesday.