(CercleFinance.com) – The DAX40 (+1.5%) opens a gap above 17,158 and shatters a new absolute record at 17,386, just as the slowdown in the German manufacturing PMI is worsening unexpectedly , falling to around 42.3 from 45.5 in January and well below the Bloomberg consensus of 45.
However, it is the automobile manufacturers (the No. 1 industry in Germany) which pull the index beyond the 17,198 tested during the session on February 16.
No more resistance can be traced – regardless of the time unit – and since 16,600 has been crossed, the next objective is around 18,000, or +50% since the floor of 09/29/2022.
Copyright © 2024 CercleFinance.com. All rights reserved.
The information and analyzes distributed by Cercle Finance only constitute a decision-making aid for investors. Cercle Finance cannot be held responsible directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional advisor before making any investment. This indicative information does not in any way constitute an inducement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends using the buttons below.
