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

Ger 40 Index Analysis Technical analysis 08/04/2024

Time Frame: 1 hour

GER40 Support & Resistance Table – 08/04/2024

Support & ResistanceLevelExplanation
Resistance 218545.2Daily R2
Resistance 118490.4Daily R1
Support 118343.6Daily S1
Support 218288.5Daily S2

GER40 Indicator Table – 08/04/2024

IndicatorSignal
SMA 20Sell
SMA 50Sell
SMA 100Buy
MACD( 12;26;9)Sell
RSI (14)Buy
Stochastic ( 9;6;3)Buy

GER40 Indicator / Period Table – 08/04/2024

Indicator / PeriodDay – SellWeek – BuyMonth – Buy
MACD( 12;26;9)SellBuyBuy
RSI (14)BuyBuyBuy
SMA 20SellBuyBuy

GER40 08/04/2024 – Reference Price : 18440.0

SELLSimple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (2)Sell (1)

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