Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Technical Analyst, Saxo Bank
GER40 cfd/DAX Future was rejected at 12,700. To continue rebound GER40 must close above 12,703 for 12,900 resistance level.
If GER40 can’t keep upside momentum and starts sliding back below 12,354 selling pressure is likely to accelerate. And if GER40 then drops back below last weeks low at 11,993 we are likely to witness a push towards strong support at around 11,508