Current trend

The leading index of the Frankfurt Stock Exchange DAX 40 is correcting at 18798.0 amid instability in the domestic bond market.

Today, the delivery service Delivery Hero SE will publish its financial results: analysts expect revenue of 2.96 billion euros, which could exceed both the 2.95 billion euros recorded in the previous quarter and 2.60 billion euros a year earlier. In turn, the leader of the German eye optics market, Fielmann AG, could show revenue of 559.6 million euros, which is higher than the 536.67 million euros shown in the first quarter, as well as 496.59 million euros over the same period a year earlier.

Today at 14:00 (GMT 2) inflation data will be published in Germany: according to the forecast, the consumer price index (CPI) in August may show zero dynamics, which will lead to a slowdown in the annual growth rate to 2.1% from 2.3%, and the index harmonized with EU standards will probably decrease to 2.3% from 2.6%.

The domestic bond market also continues its correction dynamics: the yield rate on 10-year bonds was fixed at 2.254%, which is almost the same as 2.253% recorded last week, and on 20-year bonds it rose to 2.532% from 2.515%.

The growth leaders in the index are Symrise AG ( 3.30%), Covestro AG ( 3.08%), Münchener Rück AG ( 1.83%), Allianz ( 1.59%).

The leaders of decline are Zalando SE (˗2.60%), BMW AG (˗1.46%), Mercedes Benz Group AG (˗0.67%).

Support and resistance

On the D1 chart, the price is trading in a corrective trend, rising and working out another wave of growth inside the channel with the boundaries of 19200.0–17400.0.

Technical indicators maintain a stable buy signal: fast EMAs on the Alligator indicator have been above the signal line for a long time, and the AO histogram, remaining in the buy zone, forms ascending bars.

Support levels: 18630.0, 17920.0.

Resistance levels: 18910.0, 19650.0.

Trading tips

If the asset continues to grow and the price consolidates above the resistance level of 18910.0, buy positions with a target of 19650.0 will be relevant. Stop loss – 18600.0. Implementation period: 7 days or more.

If the asset continues to decline and the price consolidates below the support level of 18630.0, sell positions with a target of 17920.0 can be opened. Stop loss – 18900.0.