On Tuesday session, stock markets in
Europe were trading elevated, extending the strong performance since the beginning of the
week. Major stock indices closed higher, largely
influenced by the sharp rise commodity and oil prices.
German DAX 30 index closed 0.65% higher, ending the day at 10 045.44, while FTSE
100 finished with a gain of 0.68% at 6 156.65. Best performers within DAX 30
index were Volkswagen AG, RWE AG and Deutsche Bank AG, as their shares rose respectively
by 4.22 %, 2.46 % and 2.42 %.
Technically speaking , the index failed to break resistance at 11400 and now
gravitates within 9300-11400. Next resistance in the upward is a psychological
level at 11700, where is not excluded a false breakout. Currently the bulls
remain calm, but the uptrend is still in place. A possible downward correction
would lead a price to the levels of support located respectively at 10000, 9300
and 8900.
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