The broader market rise was bolstered by positive economic indicators and corporate performance, with the DAX gaining about 0.7% over the week.
Key Points
- The DAX 40 closed at 18,521.13 yesterday, up by 0.31% from its open of 18,464.03.
- Strong performances from MTU Aero Engines, Zalando, and Bayer drove the rise.
- Today, the index rose to 18,627.51, up 0.56%.
DAX 40 Daily Price Analysis – 12/07/2024
The DAX 40 closed at 18,521.13, up by 0.31% from its open of 18,464.03. The index witnessed a steady rise, reflecting a positive sentiment in the European markets. Corporate earnings and news were key drivers, with top performers including MTU Aero Engines (+1.5%), Zalando (+1.4%), and Bayer (+1.2%). However, Siemens Energy and Vonovia experienced declines of -1% and -0.9%, respectively.
The broader market rise was supported by positive economic indicators and corporate performance. The DAX gained about 0.7% over the week, showcasing resilience amidst fluctuating global economic conditions. Investors took heart from the fact that leading Eurozone economies like Germany were still growing solidly, despite headwinds such as inflationary pressures and global political tensions.ibit stable growth despite challenges such as inflationary pressures and geopolitical tensions.
As of Friday, the DAX 40 has opened at 18,521.13 and has risen to 18,627.51, marking a 0.56% increase. This move is being supported by bullish investors and earnings from some of the key DAX components. Premarket trading showed strong gains, especially for tech and health care stocks which are likely to carry that strength over into the session.
Key Economic Data and News to Be Released Today
There are no high-impact economic data releases scheduled for today. As such, market movements will likely be driven by broader investor sentiment and ongoing corporate performance reports. The lack of significant economic news may lead to a steadier trading day, with technical indicators playing a more prominent role in guiding market direction.
DAX 40 Technical Analysis – 12/07/2024
The DAX 40 chart indicates a strong upward trend with the index trading near the upper resistance levels. Also, the price consistently trading above the 200 EMA indicates strong bullish momentum.
Given the current technical indicators, the DAX 40 is likely to continue its upward movement in the short term. The RSI suggests there is still room for growth before reaching overbought levels. Since the price has broken through the R2 resistance at 18,536.85, we may see a move towards the R3 level at 18,673.54.
Dax 40 Fibonacci Key Price Levels 12/07/2024
Short-term traders planning to trade the Dax index today should keep a close eye on the following key price levels for the day:
| Support | Resistance |
| 18444.80 | 18571.25 |
| 18405.74 | 18610.31 |
| 18342.52 | 18673.54 |
Risk Disclosure: The information provided in this article is not intended to give financial advice, recommend investments, guarantee profits, or shield you from losses. Our content is only for informational purposes and to help you understand the risks and complexity of these markets by providing objective analysis. Before trading, carefully consider your experience, financial goals, and risk tolerance. Trading involves significant potential for financial loss and isn't suitable for everyone.
