Markets

Daily outlook for May 29: DAX and Dow continue to rise. Boeing takes off!

The bond market remained calm. The yield on 10-year German government bonds stagnated at minus 0.42 percent and the yield on comparable US securities stood at 0.67 percent. The majority of the precious metals were firmer. Gold and silver were able to defend their support levels at $ 1,700 and $ 17 per troy ounce, respectively. The oil price was fluctuating today. The price of a barrel of Brent crude oil fluctuated between $ 33.6 and $ 35. Falling trend.

Focus on companies

The share of Adidas rose to its highest level since the beginning of March. Is the trend turning now? The Deutsche Telekom benefited from a positive analyst comment. Yesterday’s weakness in the Corona winners HelloFresh, pharmacy shop and Team viewer some investors used today to get started. The share of Lufthansa headed for the EUR 10 mark today. The wind turbine builder Nordex received a large order from innogy. Investors acknowledged this with a significant price increase. WirecardChief Markus Braun bought Wirecard shares for around 2.5 million euros. This supported the DAX® paper Zalando marked a new all-time high.

In the United States, pharmaceutical and medical technology companies were like in the first few hours of trading Pfizer and Johnson & Johnson asked. In addition, the stock of Boeing the climb of the past few days.

New work and Team viewer invite you to the virtual general meeting tomorrow.

Important appointments

  • Germany – Retail sales, April
  • Europe – Eurozone consumer prices, May
  • USA – Chicago Purchasing Managers’ Index
  • USA – Uni Michigan Consumer Confidence, May

Chart technical outlook

Resistance marks: 11,740 / 11,800 / 12,280 points

Support marks: 11.160 / 11.220 / 11.270 / 11.420 / 11.640 points

The DAX® continued the upward trend today and improved to 11,800 points. In this area, the index stagnated at the close of trading. The upward trend remains initially intact. On the underside, the DAX® is widely supported between 11,420 and 11,640 points. As long as it lasts, the bulls should hold the scepter in their hands. This means that there is still a chance of the upward movement continuing towards 12,000 / 12,280 points. If, on the other hand, the zone is undershot, a reset to 11,220 points is possible.

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

Viewing period: 04/08/2020 – 28.05.2020. 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 29, 2014 – May 28, 2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

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