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We saw a consolidation at a high level, so the DAX remains above the Easter level. A positive sign in the chart image. All information can be found in the LS-X market report.
Quiet post-Easter time
After the Easter surprise with new records, the DAX calmed down today and surrendered part of the price gains. We came to talk about the overall situation in the morning, as you can see in the video:
The unchanged start of trading was followed by a brief dive into the price regions of the previous day before we slid below Tuesday’s low. The 15,200 points were a support for several hours, but in the afternoon this level then fell with somewhat weaker prices on Wall Street.
Nevertheless, there is little sign of selling pressure; rather, the DAX is consolidating at a high level and further narrowing the range of its movements. Today only 82 points were between the low and the high in XETRA trading, as this overview shows once again:
|Previous day course||15,212.68|
There have been no further rearward movements so far. On Wall Street, market participants are waiting for the FOMC protocol at 8:00 p.m.
The intraday course can be seen at this point:
These “minutes” are expected by the FOMC protocol from 8:00 p.m. onwards, which will provide information about the future monetary policy course of the FED.
Which stocks were the focus of DAX trading today?
Stock movements in the DAX
The losers today were automobile stocks, which rose yesterday. After the US sales figures were good, the home market suffered strong drops in the first quarter. From January to the end of March around 656,450 brand new cars were sold, which is 6.4 percent less than in the same period of the previous year. New registrations rose again in March, but this could not reverse the statistics.
Beiersdorf presented preliminary figures showing an organic sales increase of 6.3 percent to 1.945 billion euros in the first quarter. After 1.91 billion euros, this was very positive news.
The midday look at the markets showed the cyclical values as the daily winners:
This did not change until evening. Henkel and Deutsche Wohnen led the DAX.
All tops and flops from the DAX are listed here:
How did this trading day affect the medium-term chart image?
Medium-term DAX chart image
The second candle of the day is now red, but has not closed the price gap. This means that the trend can hold up and has not yet broken, as the medium-term chart shows:
Should the index slide below the price gap, the market could form a small reversal pattern. Until then, however, nothing has been decided.
We will be happy to prepare further trading impulses with Imgmar Knigshofen on our youtube channel of the LS-Exchange around 9 a.m. on Thursday.
The team at LS-Exchange and TRADERS’media GmbH wishes you a pleasant evening.
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