During the Asian trading session today, the GER 40, Germany’s benchmark index, was observed hovering just below the 18,500 mark. This subtle positioning highlights the anticipatory stance of the market as European stock markets gear up for what seems to be a steady start, mirrored by incremental rises in futures.
Specifically, the futures market is showing slight optimism with the Euro Stoxx 50 futures edging up by 0.04%, the German DAX futures increasing by 0.05%, and the FTSE futures ascending by 0.10%. This cautious optimism in the futures market sets the tone for the day’s trading activities across Europe.
This sentiment comes in the wake of encouraging data from the United States, where job growth in March significantly exceeded market expectations, coupled with consistent wage increases. These developments are indicative of the U.S. economy maintaining robust momentum as it rounded off the first quarter, providing a potentially positive backdrop for global markets, including the GER 40 Index.
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Technical analysis
Time Frame: 1 hour
GER40 Support & Resistance Table – 08/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 18545.2 | Daily R2 |
| Resistance 1 | 18490.4 | Daily R1 |
| Support 1 | 18343.6 | Daily S1 |
| Support 2 | 18288.5 | Daily S2 |
GER40 Indicator Table – 08/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Buy |
| MACD( 12;26;9) | Sell |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
GER40 Indicator / Period Table – 08/04/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Sell | Buy | Buy |
GER40 08/04/2024 – Reference Price : 18440.0
| SELL | Simple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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