DAXEUR

The German DAX index is trading around the pivot level of 23772.91. Signs that the European Central Bank may accelerate interest rate cuts and positive production data from Germany are supporting the index. The recovery in automotive and technology stocks is noteworthy. The rising trend line in the chart serves as a supportive factor technically. If the index holds above the resistance level of 23990.07, levels of 24019.67 and 24192.55 can be targeted. In downward movements, sales may be seen towards the level of 23589.11 below the support of 23634.29.