As the Asian trading session unfolded, the GER 40 Index was observed navigating levels above 18,400, signaling a cautious yet pivotal day ahead for European stock markets. Investors are gearing up for a day filled with critical economic data and a slew of corporate earnings reports.
Attention is particularly focused on the release of preliminary inflation figures for April and the GDP data for the first quarter across the Eurozone, which are anticipated to influence market sentiment significantly. Furthermore, a variety of major European companies are slated to unveil their earnings, potentially setting the tone for market movements.
Market futures suggest a tentative start, with projections indicating a slight dip for major European indices. The UK’s FTSE 100 is expected to open 2 points down, Germany’s DAX might decline by 8 points, France’s CAC 40 is seen 3 points lower, while Italy’s FTSE MIB is predicted to buck the trend with a 13-point rise, according to latest figures from IG.
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Technical analysis
Time Frame: 1 hour
GER40 Support & Resistance Table – 30/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 18445.8 | Daily R2 |
| Resistance 1 | 18376.5 | Daily R1 |
| Support 1 | 18191.5 | Daily S1 |
| Support 2 | 18122.2 | Daily S2 |
GER40 Indicator Table – 30/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
GER40 Indicator / Period Table – 30/04/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
GER40 30/04/2024 – Reference Price : 18310.0
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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