Ger 40 Index Analysis

US Session Analysis for CFD Instruments 31/05/2024

Fundamental analysis

31 May, 2024

In the European session, the German Benchmark Index traded below 18,600 levels.

European stocks were volatile on Friday after new euro zone data showed a slight uptick in inflation for May, ahead of an expected rate cut from the European Central Bank next week.

Euro zone inflation rose to 2.6% in May, slightly above the 2.5% predicted by analysts, according to fresh data from Eurostat on Friday.This increase comes as the European Central Bank is widely anticipated to cut interest rates at its June 6 meeting, the first reduction since 2019.

The U.K.’s FTSE 100 was last seen down 2 points, Germany’s DAX down 48 points, France’s CAC down 9 points, and Italy’s MIB down 13 points.

Technical analysis

Time Frame: 1 hour

GER40 Support & Resistance Table - 31/05/2024

Support & Resistance	Level	Explanation
Resistance 2	18675.9	Daily R2
Resistance 1	18614.5	Daily R1
Support 1	18450.5	Daily S1
Support 2	18389.1	Daily S2

GER40 Indicator Table - 31/05/2024

Indicator	Signal
SMA 20	Sell
SMA 50	Sell
SMA 100	Sell
MACD( 12;26;9)	Sell
RSI (14)	Sell
Stochastic ( 9;6;3)	Sell

GER40 Indicator / Period Table - 31/05/2024

Indicator / Period	Day - Sell	Week - Sell	Month - Buy
MACD( 12;26;9)	Sell	Buy	Buy
RSI (14)	Sell	Sell	Buy
SMA 20	Sell	Sell	Buy

GER40 31/05/2024 - Reference Price : 18532.5

Sell

Simple Moving Average	Buy (0)	Sell (3)
Technical Indicators - Oscillators	Buy (0)	Sell (3)

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