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Daily Market Analysis 12|03|2021: DE30

Instrument: DE30

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 14601.1 with take profit at 14632.5.
Bearish Preference: 
Sell position is envisaged if price trades below 14449.1  with take profit at 14415.2.
Fundamentals:
No major economic data

Comment: DE30 ended bullish yesterday and has currently opened lower during the Asian time this morning due to  the mixed sentiments from the ECB press conference held yesterday. However, currently DE 30 is trading above the 48 Moving average which is representing a level of dynamic support to the bullish trend but looking at it from H1, price is currently ranging between a fixed resistance of 14598 and support of 14501.

Analysis: SCRUM Team

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