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

Ger 40 Index Analysis Technical analysis 15/05/2024

Time Frame: 1 hour

GER40 Support & Resistance Table – 15/05/2024

Support & ResistanceLevelExplanation
Resistance 218997.8Daily R2
Resistance 118946.9Daily R1
Support 118811.1Daily S1
Support 218760.2Daily S2

GER40 Indicator Table – 15/05/2024

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

GER40 Indicator / Period Table – 15/05/2024

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

GER40 15/05/2024 – Reference Price : 18875.5

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (1)

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