Dax probes firm terrain – Does technical support hold?

01/12/2018 – 10:50 a.m.: The consolidation movement, which has been taking place since midweek, calls the first buyers on the schedule. The first setback of the rally at the beginning of the year is currently being used as an entry point. Despite a strong increase in the euro, the Dax can stabilise at the moment, due not least to new record highs on Wall Street.

The technical support region between 13,135 Dax points (= MA50) and 13,200 points (= upper trading range at the end of 2017) acts as a catchment zone on the underside until further notice. A first re-test of thus price region after the breakout at the beginning of the year is currently in full swing. Whether this will be successful depends not least on the data available at micro and macro level today.

Against this backdrop, investors look particularly at retail sales and the consumer price index in the United States. In addition, three US financial giants – JPMorgan Chase, Wells Fargo and Blackrock – present their balance sheets. At the end of the week, there is still some movement potential waiting for the market participants.

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