Instrument: DE30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 13277.0 with take profit at 13335.0
Bearish Preference:
Sell position is envisaged if price trades below 13175.5 with take profit at 13141.1
Fundamentals:
01:15pm EUR Main Refinancing Rate
EUR Monetary Policy Statement
Comment:
European stock markets traded higher Wednesday, continuing the global rally on the back of healthy corporate earnings and growing confidence of the expected resumption of Russian gas supply to Europe, easing fears of a regional energy crisis. Back in Europe, Russian gas flows via the Nord Stream 1 pipeline are likely to restart on time on Thursday after the completion of scheduled maintenance, Reuters reported citing sources, easing investors’ concerns about gas supply to Europe. Still, gains are likely to be limited as investors await Thursday’s important European Central Bank meeting, which is widely expected to result in the central bank’s first interest rate hike since 2011.
Analysis: SCRUM Team
