CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Dax to 13600

Article By: ,  Senior Market Analyst
January 9, 2020 12:16 PM
The German Dax led the charge northwards in Europe, rallying an impressive 1.3%, pushing to close near the key psychological level of 13500.  The swift advance has brought the Dax’s all-time high of 13600 squarely back into view. 

Stronger than forecast German industrial production figures have helped buoy sentiment, particularly after yesterday’s dismal German factory orders data. Industrial production month on month came in at 1.1% in November, ahead of expectations of 0.7%. The yearly reading also beat forecasts at -2.6%.

The upbeat data combined with ebbing tensions in the Middle East and the expected signing of a phase one US – China trade deal next week has given Dax bulls plenty to cheer. It is a question of when, not if the Dax will reach a fresh all-time high. The answer is looking to be sooner rather than later.

Levels to watch:
Dax jumped to a fresh two year high and is currently sitting at 13500. Today’s solid gains support the bullish outlook for the Dax which is trading above its 50, 100 and 200 sma. 
Near term resistance is today’s high of 13521, followed by the all time high of 13596 (January 2018).On the flipside immediate support can be seen at 13467, today’s low, followed by 13110, the low from the previous session.

The outlook here is bullish. Although an escalation in geopolitical tensions could put pressure back on the Dax.


StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024