DAX Futures Morning Update on 26 November

The DAX Futures is trading at 11,265.50  up with +0.81% percent or +90.00 point.The FTSE 100 Futures is trading at 6,997.80 up with +0.71% percent or +49.60  point. The CAC 40 Futures is trading at 4,969.00 up with +0.87% percent or +43.00 point . The EURO Stoxx 50 Futures trading at 3,153.00  up with +0.93% percent or +29.00 point.

TODAY’S FACTORS AND EVENTS

In last week’s DAX commentary, the focus was on big resistance around the neckline of the broad head-and-shoulders pattern, and how if that couldn’t be recaptured then the 2011 trend-line was likely to come back into play.

With global equity markets continuing to sag and the leading U.S. markets also failing to rebound, it looks likely the 2011 trend-line won’t hold much longer. It’s a very important line as it is effectively the last line of major support until lows seen in 2016 in the 9300/8700-area.

Trading down to those levels won’t happen in a straight line, though. On a break of trend-line support and last month’s low at 11050 there is good support down around 10800. The area surrounding this level, give or take 50 points, was created during a consolidation during 2016. It could be enough to put a bounce in, but not viewed as enough to cement a floor.

.

PREVIOUS DAY ACTIVITY

For the day Germany’s DAX closed at 11,192.69 up with +0.49% percent or  +54.20 point. the FTSE 100 closed at 6,952.86   with a loss of -0.11% percent or -7.46 point. France’s CAC 40 closed at 4,946.95 up with +0.18% percent or +8.82 point. 

WORLD MARKETS

For the day the Dow is trading at 24,285.95  with a loss of  -0.73% percent or  -178.74 point. The S&P 500 is trading at 2,632.56  with a loss of -0.66% percent or -17.37 point. The Nasdaq Composite is trading at 6,938.98   with a loss of -0.48% percent or -33.27  point.

In other parts of world, Japan’s Nikkei 225 is trading at 21,812.00 up with +0.76% percent or+165.45 point. Hong Kong’s Hang Seng is trading at 26,339.44 up with +1.59% percent or +411.76 point. China’s Shanghai Composite is trading at 2,575.81  with a loss of -0.14% percent or  -3.67 point. India’s BSE Sensex is trading at 35,065.93  up with +0.24% percent or +84.91 point at 12:15 PM.

You may also like...

Rules of Discussion on DAX Futures Morning Update on 26 November

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is stricly prohibited
5. Spam links are not allowed. Too much promotion or using Contact info in ID will lead to account ban.
IMP : Memebrs are requeuested to flag any violations to keep Forum Clean