Daily Market Analysis 24.05.2022: DE30

Instrument: DE30

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 14099.8 with take profit at 14135.8
Bearish Preference: 
Sell position is envisaged if price trades below 13963.4 with take profit at 13911.7
No Major Fundamental

European stock markets were lower after early trading on Tuesday, as reminders of the risks to global growth from both China and the U.S. put a quick end to Monday’s relief rally. Disappointing earnings numbers from Snapchat parent Snap (NYSE:SNAP), combined with disappointment at the modest nature of a Chinese fiscal stimulus package unveiled on Monday, to weigh on risk sentiment, leading to broad declines across the whole continent.

Analysis: SCRUM Team

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