Germany Global

Germany showing back confidence

Germany has always been a focus whenever there is any crisis talks in Euro area as its one of the strongest economy at fragile time. But recently it faced some problem or may say rumors that Deutsche Bank is in liquidity crunch and bear traders were even spreading a next “lehman crisis’ in Germany.. But i thought that was stupid to conclude so easily. When Germany can take a step to save crisis in Greece, Spain or say Italy, wont it try to save their own bank??? But as the time passed and Bank officials showed confidence on their liquidity assets, we have seen markets around the global stabilizing and DAX index giving a strong sign of Short Covering. Though still the global economy is fragile but for time being there is no Deutsche crisis seen in near future. As you all could notice that, DAX has opened up above the strong resistance channel which it was holding since High this year. Though its early to confirm the reversal as we have seen false breakout too once before. But short traders so be Cautious as even indicators are supporting upside bias. 9250-9338  is strong support range and we should watch on closing basis for the same. Still Stay Alert!!

Leave a Reply

Your email address will not be published. Required fields are marked *