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Instrument: DE30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 15313.8 with take profit at 15341.4.
Bearish Preference:
Sell position is envisaged if price trades below 15192.7 with take profit at 15168.9.
Fundamentals:
No major fundamental.
Comment: Tuesday’s gains only partially recover some on Monday’s rout, when the DAX closing down 2.6% amid fears the latest surge of Covid-19 cases, led by the highly contagious delta variant, will prompt governments to resume tight lockdowns and curb economic activity.
These markets had rallied strongly in the first half of the year as investors bet that the rollout of Covid-19 vaccination programs would help economies to recover strongly as mobility restrictions were lifted. However, the increase in new cases, firstly in Asia but increasingly in Europe and the U.S., has changed that narrative.
Analysis: SCRUM Team
