9:22 AM · 22 June 2020

DE30 soars on upbeat comments

Monday started amid a risk-off sentiment but this has already changed. DE30 recovered nearly 250 points on comments from the Chinese officials that virus outbreak in Beijing has now been contained. Separately, German finance minister said he was confident about the EU recover fund and that Europe needs to move closer to fiscal union. Looking at DE30 from technical perspective this still could be wave “b” in the “abc” correction but for now the bulls have staved off a sell-off.

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