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DAX recovering higher amid risk-on sentiment – DAX 30 Market Outlook – 01/02/2021


The Dax30 hit both our long/short resistance/support targets to settle 1.60% in the red, weighed down by a slower than expected vaccine rollout to the 27 nation bloc as European Commissioner continues to pressure pharmaceuticals, with Chancellor Merkel scheduled to have a crisis talk today. AstraZeneca announced that it will deliver an additional 9M doses to the EU in the first quarter, bringing the total to 40M in Q1, however still half of what was earlier expected. Asia/Pacific markets printing in the green after the PBOC injected funds in the market, have outweighed weaker than expected German Retail sales data, with 13600 as the next resistance target.

Support: 13520 / 13440
Resistance: 13600 / 13700

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dax-recovering-higher-amid-risk-on-sentiment-dax-30-market-outlook-01-02-2021
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