5:42 PM · 31 January 2020

BREAKING: Investors panic, DE30 about to test key support

Friday started in decent moods after strong earnings from US tech stocks but ends in an uncontrolled panic, especially in Europe where stocks tank between 2 and 2.5%. Investors are faced with virus uncertainty and the data released today (GDP contraction in France and Italy, Chicago PMI lowest in 4 years) shows that the economy has been struggling even before the virus impact. DE30 sees the worst sell-off since early December and is just a notch above the key support zone of 12900 points. We warned few days ago that a false break-out looked similar to the one from July and this is the scenario that seems to be unfolding now.  

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