ANALYSIS
NQ100 Finds Support from PPIApr 14
German Manufacturing sounds the alarm: DAX40 is under pressure
Coronavirus has already become critical for Germany, which is the Europe's locomotive economy, and the data released by Destatis today showed that the country's factory orders contracted by 6.9 percent in October. This contraction was well above the market expectations and brought sales to the German index. Technically, if the index breaks the lower line of the minor wedge pattern, which is a continuation of the trend, losses will possibly deepen to 15 100 and 15 000 support levels. On the other side, we will follow 15 445 resistance above 15 335.
