Markets

Daily outlook for May 26: DAX breaks out. Bayer and Lufthansa take off!

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The bond market remained calm. The yield on 10-year German government bonds stagnated at minus 0.49 percent and the yield on comparable US securities stood at 0.744 percent. There was hardly any movement in the precious metals either. Gold prices remained at around $ 1,730 and silver above the $ 17 mark. Oil showed little change in the run-up to the OPEC + meeting. The price of a barrel of Brent Oil remained in the $ 35 range.

Focus on companies

Some companies made the headlines today. At Bayer a first agreement is being made in the glyphosate process. The share then improved by over seven percent. In the Lufthansa there is an agreement on state aid. However, various bodies still have to agree. The share nevertheless took off today. TUI plans to fly again in June. That gave the share a double-digit plus today. Aircraft manufacturers such as today also benefited from the reports in the aviation and tourism industries airbus and engine manufacturers like MTU Aero Engines.

Fraport and Nordex invite you to the virtual general meeting tomorrow.

Important appointments

  • Germany – GfK consumer confidence index
  • USA – consumer confidence

Chart technical outlook

Resistance marks: 11,740 points

Support marks: 10.750 / 10.880 / 11.000 / 11.055 / 11.100 / 11.160 / 11.210 / 11.250 points

The DAX® continued the upward trend of the past week today, breaking through the 10,250 / 11,250 corridor. If the breakout is confirmed tomorrow, there is a chance of a recovery up to the 161.8% retracement line at 11,720 points. On the underside, the index finds a strong resistance zone between 11,000 and 11,250 points. If the index dips below 11,000 points, there is a risk of consolidation to 10,880 points.

DAX® in points; 4-hour chart (1 candle = 4 hours)

Viewing period: 04/09/2020 – 25.05.2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

DAX® in points; Weekly chart (1 candle = 1 week)

Observation period: May 26, 2014 – May 25, 2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

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