❗ German DE30 broke above 15,000 pts for the first time since late-February 2022
European stock market indices benefit from the risk-on moods seen during the Wall Street session yesterday. DE30 broke above the 15,000 pts mark for the first time since late-February 2022 and trades above pre-invasion levels. Markets feared that Powell may hint on the need for more tightening during his speech yesterday but as the Fed chair did not touch on topics of economy or monetary policy at all, markets reacted positively. A pullback in bond yields is providing fuel for bulls in Europe today as well. Sentiment is also supported by vague comments from Russian officials that proposals were made and discussed on potential ceasefire during meetings with Turkish and Ukrainian officials. However, there are no more details to this story.
Stock market indices from Europe are trading higher today with a scale of gains ranging up to 1%. Taking a look at German DAX futures (DE30) at D1 interval, we can see that the index is attempting to break above the resistance zone ranging around the psychological 15,000 pts mark. This zone served as the lower limit of the trading range in the March 2021 - February 2022 period and saw numerous price reactions.
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Source: xStation5
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