GERMAN'S DAX: INDEX CONTINUES TO LOOK STRONG
Following the easing of risk appetite with the decline in US 10-year bond yields, the DAX index accelerated its rally towards the record level of 14,100. While the increasing expectation that the US economic support package will pass by the Senate triggers the demand for the indices, it is seen that the mitigation of the measures for the Covid-19 outbreak throughout the world increases the positive laziness in the markets. Thus, it is seen that the DAX index maintains its appearance above the 14,000 level again at the point of compensating its losses.
In the content of the DAX index, three of the ten sectors completed the day with gains, while the losses in infrastructure and health stocks suppressed the index increases to some extent. The discretionary consumption and industry sectors were among the positive performances of the day. On the basis of companies, it is seen that the increase in Covestro stocks supports the index in the upward acceleration.
In the technical view of the DAX index, with prices exceeding the record 14.100 level, the rises may enter into buying potential within the framework of the 14.400 and 14.750 resistance levels. However, in a possible loosening below 14.000 level, it is worth paying attention to 13.800 support transitions. Below this level, we follow the support level of 13,476 in terms of direction change in the index.