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Democratic victory pushed DAX higher – DAX 30 Market Outlook – 07/01/2021

SquaredFinancial

The German DAX30 reached our target at 13900 as stocks continued to rally on news of the European Medicines Agency’s approval of Moderna’s COVID-19 vaccine coupled with a Democratic victory in Georgia. Earlier this morning, German factory orders rose 2.3% while economists had predicted a draw of -0.6%. A clear sign that the German manufacturing sector is growing resilient to the pandemic. The next levels of resistance to watch are the 14000 psychological round figure and the 14200 fibonacci target.

Support: 13900 / 13800
Resistance: 14000/ 14200

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/democratic-victory-pushed-dax-higher-dax-30-market-outlook-07-01-2021
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