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Upbeat earning reports and Vaccine optimism boosted the DAX higher – DAX 30 Market Outlook – 19/10/2020

SquaredFinancial

Upbeat earning reports and comments from Pfizer that it could file for U.S. authorization of the Covid-19 vaccine it is developing with German partner BioNTech as early as November, supported higher prints on the Dax as we trade around the 200 period SMA and above 12900 support level. An hourly close below 12900 support level will favor further downside with 12800 as the next support target.

Support: 12900 / 12800
Resistance: 13000/ 13135

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/upbeat-earning-reports-and-vaccine-optimism-boosted-the-dax-higher-dax-30-market-outlook-19-10-2020
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