DAX followed up on Tuesday with its previous-day gains. Traders continued to do well, and the trade dispute between China and the US could soon be settled. 12458 and 12483 are the key milestones to break today in order to continue this bullish momentum. Technically the market is still bearish below 12458, but this will be under pressure today.
On the corporate side, there was little movement. A positive analyst commentary from Berenberg Bank gave Bayer stock a boost. The analysts see after the 16-percent slide last week because of the damage verdict against the US subsidiary Monsanto a buying opportunity. For the paper, it went up on Tuesday by just under three percent. At about ten percent, the TecDax went up for the Medigene share. The biotech company announced that it had found another partner for the development of a novel cancer immunotherapy.
In the other markets, US President Donald Trump caused a sensation with his criticism of the monetary policy of Jerome Powell, head of the US Federal Reserve. “I’m not thrilled that he raises interest rates,” he said in an interview with Reuters news agency. Apparently, the market is worried that the president will influence the Fed’s policy.
22-08-2018 Dax Video
22-08-2018 Dax Key Levels
| KEY LEVELS (MINI DAX) | |
| POC * | 12405 |
| Value Area High | 12420 |
| Value Area Low | 12373 |
| VWAP | 12381 |
| R2 | 12492 |
| S2 | 12246 |
| Pivot | 12369 |
| Camarilla Breakout (Bull) | 12444 |
| Camarilla Breakout (Bear) | 12308 |
