During the course of the day, take a close look at the interim results of Siemens’ rival General Electric (GE). In addition, the share of Microsoft should attract interest. The world’s largest software house has delivered surprisingly strong revenue and earnings growth in the past fourth quarter thanks to a booming cloud business. Thereafter, revenue increased 17.5 percent to $ 30.1 billion, and net income increased 10 percent to $ 8.87 billion between April and June.

In addition, we should keep an eye on the trade dispute and the big press conference of Angela Merkel before the summer break because the conflict between the US and Europe and China should be a big topic.

See the live prices of the Dax 30 companies here

20-07-2018 Dax Technical Analysis Video

The DAX is still positive for the week. We are currently in a short-term retracement of the recent rally. Expected retracement targets are somewhere in the 637 zone. This 637 was the previous high which was taken out. Mark your pivots out on the chart (daily pivots and Cam pivots).

The price action from yesterday was straight forward. We see a series of lower lows and lower highs. Bearish below 12696 in the short-term and expect price to continue down to 637.

The exposed POCs are interesting targets and we have 833 above which is the most likely target over the next week or so, however if we break to the downside then 457 is the obvious target.

20-07-2018 Dax Charts