European Shares Gain as DAX Holds Bullish Momentum Ahead of CPI
Updated
European Shares Rise, Led by Tech and Resources Sectors
European shares opened higher on Wednesday, with gains driven by the tech and basic resources sectors, as investors await a key U.S. inflation report for insights into the Federal Reserve’s upcoming interest rate decision.
The DAX remains in a bullish momentum zone as long as it trades above 18,180, with potential targets at 18,520 and, beyond that, 18,645. The trend is expected to remain bullish ahead of the inflation data, and if the data aligns with expectations, this momentum is likely to strengthen.
However, a break below 18,180 could signal a downturn, with the price potentially falling towards 17,960.
European shares opened higher on Wednesday, with gains driven by the tech and basic resources sectors, as investors await a key U.S. inflation report for insights into the Federal Reserve’s upcoming interest rate decision.
The DAX remains in a bullish momentum zone as long as it trades above 18,180, with potential targets at 18,520 and, beyond that, 18,645. The trend is expected to remain bullish ahead of the inflation data, and if the data aligns with expectations, this momentum is likely to strengthen.
However, a break below 18,180 could signal a downturn, with the price potentially falling towards 17,960.
- Key Levels:
Pivot Point: 18300
Resistance Levels: 18520, 18640, 18780
Support Levels: 18180, 17970, 17740 - Expected Range: 18180 - 18780
- Trend: Bullish as long as the price stays above 18,290 and 18,180.
Trade active
GER30
Update
the direction still has an uptrend till 18640 and 18770 especially if can stabilize above 18520
Trade closed: target reached
DAX
Update
the price pushed up about 400 points as we mentioned above,
so now should break 18640 to be downward till 18520
otherwise stability above 18640will support rising toward 18780
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