Daily market commentary: Risk appetite remains well in place, especially after German GDP data topped estimates

European Shares

Stocks traded mixed but with less volatility in Europe on Friday, as volumes remain lower than usual. Stock indices are slowing for the last trading session of the week, as many investors were tempted to take some profit after prices hit major resistances following this six-week winning streak. Risk appetite remains well in place, especially after this morning’s German GDP data release topped estimates, but today’s session is likely to be technical and less directional due to the lack of any significant macro data release, while investors brace for a shortened trading session following Thanksgiving.

 

 

European stock market experiences positive change

The DAX-40 index is fluctuating since its impact on the 3,970.0pts resistance level (61.8% Fibonacci) and the MACD indicator already highlights a slowing bullish trend (bearish divergence) on the mid-term view. As previously said, a break-out of the 3,970.0pts level isn’t likely today, but the market may find further support over the 3,950.0pts, 3,935.0pts and 3,905.0pts zones.

Pierre Veyret– Technical analyst, ActivTrades


Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.

Tags:

Read Also: