In today’s Asian trading session, the German GER 40 Index was observed trading above the 18,800 mark, signaling a bullish start for European stocks. The market’s optimism is cautiously held in anticipation of the U.S. Consumer Price Index (CPI) figures scheduled for release later today. Analysts predict a 0.4% monthly increase in the CPI for April, marking a 3.4% year-over-year rise.
Market projections suggest a mixed start across Europe: the UK’s FTSE 100 is anticipated to drop by 41 points, whereas Germany’s DAX is expected to gain 60 points. Meanwhile, France’s CAC and Italy’s FTSE MIB are projected to rise by 22 and 142 points, respectively.
Investors are also bracing for a slew of corporate earnings, with key reports from major European firms like Allianz, EON, RWE, Commerzbank, and Thyssenkrupp. In addition, the market is awaiting the euro zone’s preliminary GDP figures, which will provide further insights into the economic health of the region.
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Technical analysis
Time Frame: 1 hour
GER40 Support & Resistance Table – 15/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 18997.8 | Daily R2 |
| Resistance 1 | 18946.9 | Daily R1 |
| Support 1 | 18811.1 | Daily S1 |
| Support 2 | 18760.2 | Daily S2 |
GER40 Indicator Table – 15/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Buy |
GER40 Indicator / Period Table – 15/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Sell | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
GER40 15/05/2024 – Reference Price : 18875.5
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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