Instrument: DE30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 15964.9 with take profit at 16001.5.
Bearish Preference:
Sell position is envisaged if price trades below 15859.1with take profit at 15812.7.
Fundamentals:
None with high impact on the index
Comment: European stock markets edged higher Thursday with Remy Cointreau starring, while investors digested the formation of a new governing coalition in Germany as well as the region’s ongoing Covid-19 crisis. After two months of negotiations, the Social Democrats, the Greens and the Free Democrats agreed a coalition deal on Wednesday that will result in Olaf Scholz of the Social Democrats replacing Angela Merkel as German chancellor after 16 years. The coalition is seen promoting more public investment to speed up the shift towards a green economy, but its first priority is likely to be attempting to control the coronavirus pandemic which has returned to the continent in force Also, a rise in Stocks is set to begin Wednesday ahead of the U.S. Thanksgiving holiday and Black Friday.
Analysis: SCRUM Team