DAX Extends Losses As Business Sentiment Weakensfxcue.com

(fxcue news) - German stocks fell on Thursday to extend losses from the previous session as a global tech selloff intensified and a survey showed German business morale unexpectedly fell in July. The Ifo institute's business climate index sank to 87.0 in July from 88.6 in June amid increasing pessimism about the performance of Europe's largest economy. The benchmark DAX was down 244 points, or 1.3 percent, at 18,143 after losing 0.9 percent in the previous session. Semiconductor parts maker Aixtron AG fell 2.6 percent after revising down the annual revenue outlook for the third quarter. Agriculture group BayWa rallied 2.7 percent on reports that Swiss energy investor Energy Infrastructure Partners (EIP) is seeking to increase its stake in the company's renewable energy unit. Vossloh, an international technology group focused on rail products including switches, signals and crossings, rose over 2 percent after reporting a rise in first-half net income. Wind turbine maker Nordex gained 1 percent after narrowing its half-year net loss and lifting its FY24 EBITDA margin view.

DAX Extends Losses As Business Sentiment Weakens

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Trader

Gold first fell close to 2602 or 2594 and bought long, then rose close to 2624 or yesterday's high and sold short. Crude oil still tends to fluctuate mainly today, buying long below 68.8 or yesterday's low, and selling short above yesterday's high or 70.7.

Today, gold is mainly focused on rebound short selling, with a short-term focus on the resistance line of 2628-2633. If it does not break through, short selling can be done. The short-term focus below is on the first-line support of 2600-2595, and it is advisable to buy more lightly.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.4-67.9 below.

Spot gold is expected to rebound to 2620, short selling with a loss of 2627, short looking at 2606-00, target 2590-86; Short selling at 2631 with a loss of 2638, the target remains the same.

Buy more spot gold for profit and take profit

Spot gold operation strategy: 1. Gold rebounds 2638-2642, sell empty, stop loss 2651, target line 2588-2593; 2. Gold retraces to buy long at 2586-2593, stop loss at 2575, target at 2630-35 line;

Spot gold 2630 short, target 2618, stop loss 2635. Buy long at 2618-20, stop loss at 2612, target at 2630-40.

Tags

DAX Extends Losses As Business Sentiment Weakens

China Unexpectedly Cuts MLF Rate By 20 Bps

Humana Expands Partnership With Google Cloud By Inking New Multi-year Agreement

Taiwan Shares Tipped To Open In The Red

Asian Shares Slump After Weak Earnings

Japan Producer Prices Jump 3.0% On Year In June

DAX Extends Losses As Business Sentiment Weakens

Malaysia Shares May Take Further Damage On Thursday

Federal Signal Boosts FY24 Adj. EPS Outlook As Q2 Results Top Estimates

Please sign in

Trader

Gold first fell close to 2602 or 2594 and bought long, then rose close to 2624 or yesterday's high and sold short. Crude oil still tends to fluctuate mainly today, buying long below 68.8 or yesterday's low, and selling short above yesterday's high or 70.7.

Today, gold is mainly focused on rebound short selling, with a short-term focus on the resistance line of 2628-2633. If it does not break through, short selling can be done. The short-term focus below is on the first-line support of 2600-2595, and it is advisable to buy more lightly.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.4-67.9 below.

Spot gold is expected to rebound to 2620, short selling with a loss of 2627, short looking at 2606-00, target 2590-86; Short selling at 2631 with a loss of 2638, the target remains the same.

Buy more spot gold for profit and take profit

Spot gold operation strategy: 1. Gold rebounds 2638-2642, sell empty, stop loss 2651, target line 2588-2593; 2. Gold retraces to buy long at 2586-2593, stop loss at 2575, target at 2630-35 line;

Spot gold 2630 short, target 2618, stop loss 2635. Buy long at 2618-20, stop loss at 2612, target at 2630-40.

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