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Dax 30 Short

by SignalFactory   ·  October 1, 2021 | 10:13:42 UTC  

Dax 30 Short

by SignalFactory   ·  October 1, 2021 | 10:13:42 UTC  

There was blood in the markets on Friday, as European stocks dragged lower after posting their first negative month since January on concerns of slowing economic growth.

“Investors are now nervously eyeing October, and wondering perhaps if this could be the beginning of further weakness,” Michael Hewson of CMC Markets said.

“As we head into the final quarter of 2021 the gains year to date are still pretty decent, which raises the question, how much more is left in the tank, and whether this October will live up to the reputation of Octobers past, and deliver a huge curveball, as well as giving investors an anxiety attack.”

Surging energy prices, supply chain disruptions, and concerns about inflation will be keeping traders on their toes.

The downward momentum in the DAX intensified at the beginning of the new month. The leading German index is heading for the 15,000 point mark, which should turn out to be the fateful mark for the DAX.

At the start of trading on XETRA, the DAX slumped 1.4 percent to 15,042 points. The downward trend in the 40 German standard stocks is still completely intact, the DAX is in a falling trend channel. Anyone who has used the courses that have already fallen in the past few days to get started now needs strong nerves.

“So far, the bargain hunters have not had too much luck hunting. The recent price setbacks have not yet paid off,” emphasizes IG analyst Christian Henke. “Rising yields in the US and the fear of rate hikes are making market players cautious.”

Flood of economic data:
A large number of economic data should keep investors in suspense as trading continues. In the morning, German retail sales made the start and caused a disappointment: Compared to the previous month, real sales (price-adjusted) increased by 1.1 percent. Analysts had expected an increase of 1.5 percent.

After the rise in the German inflation rate to 4.1 percent in September and thus to its highest level in almost 30 years, the European price data due at 11 a.m. is also attracting special attention. In the USA, among other things, the much-noticed consumer spending is on the schedule. The buying mood of the local consumers is considered to be the mainstay of the world’s largest economy.

Dax Short (Sell)
Enter At: 15046.329
T.P_1: 14785.520
T.P_2: 14230.954
T.P_3: 13541.451
S.L: 15375.438

Dax 30
Dax 30
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