NEWS: The German stock benchmark GER40 fell on Monday on fears sparked by China’s Evergrande, the second largest property company in China, which appears to be on the brink of bankruptcy.
Possible Scenarios:
If GER40 fails to break below Support 2 of 15019.90, our Research Department expects GER40 to undergo a short-term upward correction.
If GER40 manages to break below Support 2 of 15019.90, our Research Department expects GER40 to extend its losses to its Support 3 of 14983.00.
Support and Resistance Levels:
GER40 |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
14983.00 |
15019.90 |
15056.80 |
15106.00 |
15155.20 |
15192.10 |
15229.00 |
Potential Profit or Potential Loss Calculations:
1 point per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)117.10$ |
(+/-)100€ |
(+/-)85.73£ |
* 1 trading lot is equivalent of 10 units
** EUR/USD = 1.17100
*** GBP/USD = 1.36590
Calculations for exchange rate used as of 13:30 (GMT+1) 20/09/2021