During the Asian trading session, the German Benchmark Index successfully surpassed the 18,800 mark. As we head into Tuesday, European equity markets are anticipated to face a downturn, with investors globally bracing for critical inflation data from the U.S. Market experts are projecting a 0.4% monthly rise in the U.S. consumer price index for April, translating to an annual increase of 3.4%. Despite the upward trend in inflation, the sentiment in the trading community leans towards minimal likelihood of any aggressive rate hikes by the Federal Reserve in the near term. Market forecasts are setting a cautious tone, with expectations for the FTSE 100 to open 17 points lower, Germany’s DAX to decrease by 18 points, France’s CAC to drop by 5 points, and Italy’s FTSE MIB to decline by 31 points.
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Technical analysis
Time Frame: 1 hour
GER40 Support & Resistance Table – 14/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 18962.8 | Daily R2 |
| Resistance 1 | 18911.9 | Daily R1 |
| Support 1 | 18776.1 | Daily S1 |
| Support 2 | 18725.2 | Daily S2 |
GER40 Indicator Table – 14/05/2024
| 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 – 14/05/2024
| 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 14/05/2024 – Reference Price : 18842.0
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (0) |
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