Weekly DAX Analysis 22.03.2019
Week Open: 11,685.54
Week High: 11,823.49
Weekly High: 11,823.49
Weekly Low: 11,356.49
Volume 22.03: 112,187,500
Volume 15.03: 187,987,500
Resistance Levels: 11,406; 11,449; 11,471
Support Levels: 11,340; 11,318; 11,274
Top 3 Weekly risers
RWE AG ST 5.60%
E.ON SE 4.55%
Beiersdorf 3.29%
Top 3 Weekly fallers
Bayer -12.47%
Lufthansa -7.00%
Deutsche Bank AG -6.90%
The Dax closed at 11,364 on the 22.03 a drop of 322 points from the 15.03 close of 11,686. The support level of 11,400 we has broken and the Dax could now potentially keep dropping with near term support levels seen at 11,340, 11,318 and 11,274.
Summary
The Index rose to its weekly high of 11,823 on the 19.03 with the actual EUR German ZEW expectations (MAR) at – 3.6 beating the forecast of -11. However the Dax dropped to 11,364 on 22.03 as the EUR Markit/BME Germany Manufacturing PMI (MAR P) came in it at 44.7 below the forecast of 48 indicating a weakening of the German and Eurozone economy.
Forecast
The Dax could now potentially continue its medium term downtrend and drop below 11,000 and could even re-visit the Dec 18 lows below 10,500 which haven’t been seen since Dec 16.
Key Upcoming Data for Week Ending 29.03
28.03 EUR German Consumer Price Index (YoY) (MAR P)
29.03 EUR German Unemployment Claims Rate s.a. (MAR)
Week Open: 11,685.54
Week High: 11,823.49
Weekly High: 11,823.49
Weekly Low: 11,356.49
Volume 22.03: 112,187,500
Volume 15.03: 187,987,500
Resistance Levels: 11,406; 11,449; 11,471
Support Levels: 11,340; 11,318; 11,274
Top 3 Weekly risers
RWE AG ST 5.60%
E.ON SE 4.55%
Beiersdorf 3.29%
Top 3 Weekly fallers
Bayer -12.47%
Lufthansa -7.00%
Deutsche Bank AG -6.90%
The Dax closed at 11,364 on the 22.03 a drop of 322 points from the 15.03 close of 11,686. The support level of 11,400 we has broken and the Dax could now potentially keep dropping with near term support levels seen at 11,340, 11,318 and 11,274.
Summary
The Index rose to its weekly high of 11,823 on the 19.03 with the actual EUR German ZEW expectations (MAR) at – 3.6 beating the forecast of -11. However the Dax dropped to 11,364 on 22.03 as the EUR Markit/BME Germany Manufacturing PMI (MAR P) came in it at 44.7 below the forecast of 48 indicating a weakening of the German and Eurozone economy.
Forecast
The Dax could now potentially continue its medium term downtrend and drop below 11,000 and could even re-visit the Dec 18 lows below 10,500 which haven’t been seen since Dec 16.
Key Upcoming Data for Week Ending 29.03
28.03 EUR German Consumer Price Index (YoY) (MAR P)
29.03 EUR German Unemployment Claims Rate s.a. (MAR)