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DAX Trade Idea 23 Feb -

Feb, 23rd 17:17


DAX has surged up significantly yesterday on support from the oil price. WTI rallied 4.4% in the last session. The index is predicted to retreat from the previous high of around 9597.1 as oil has fallen back due to weak economic data from China’s manufacturing and service sector this morning. Minxin manufacturing index dropped from 41.8 to 37.5 in February, whereas the non-manufacturing index fell to 37.5 from 43. However, later in the day, several pieces of data on the U.S. economy will be released, which is likely to put downward pressure on the euro, and in turn provide support for German benchmark to break through yesterdays highs.

Buy Digital Put Option at 9350.0 and Digital Call Option at 9610.0

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