The German stock DAX 30 index under moderate pressure after data on the PMI index in industry and services in France and Germany were much worse than expected. Moreover, the PMI index in the service sector in France has fallen below 50%, which is the border between recession and growth. The value of the index was recorded at 49.6%, while a month earlier it was 51.1%.
Nevertheless, a significant impact on the index could have the situation around Greece during that Markit and conducted a survey, and therefore can be expected to restore business confidence in the next reports.
DAX futures are preparing to test the key support level in the 200-hour moving average, which currently stands at 11365. At these relatively low price levels may be of interest to search for long positions.
|Dax futures chart|
Dax futures (FDAX) – buy dax – Entry price: level 11365. Goal: 11810. Stop loss: 11125.Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and does not guarantee a result.