In the recent Asian trading session, the GER 40 Index soared past 18,500 points. European stock markets witnessed a robust performance, closing Tuesday with a substantial 1.1% gain, marking the highest levels seen in over a month. This positive momentum was primarily fueled by impressive earnings reports from key financial entities, notably Switzerland’s UBS and Italy’s UniCredit, which exceeded market expectations.
The uplift in market sentiment was further enhanced by growing expectations of potential rate cuts, stimulating investment appetites across the region. The FTSE 100 in the United Kingdom escalated by 1.3%, Germany’s DAX advanced by 1.4%, France’s CAC appreciated by 1%, and Spain’s IBEX enjoyed a 1.5% increase.
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Technical analysis
Time Frame: 1 hour
GER40 Support & Resistance Table – 08/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 18729.4 | Daily R2 |
| Resistance 1 | 18668.4 | Daily R1 |
| Support 1 | 18505.6 | Daily S1 |
| Support 2 | 18444.6 | Daily S2 |
GER40 Indicator Table – 08/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Neutral |
GER40 Indicator / Period Table – 08/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
GER40 08/05/2024 – Reference Price : 18576.0
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (0) |
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