DAX: Stalling at the 50 per cent retracement level & neckline of a giant head & shoulders top after this calendar year’s corrective bounce. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

DAX SHORT TERM TRADER: Short at 11600; stop well above 11800. First target 10800.

DAX POSITION TAKER: Square.

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Turkey’s new recession Arrives in Q4 2018

The Financial Times reports that based on data released this morning Turkey saw its economic growth slow dramatically in the last 3 months of last year; it shrank by 3 per cent Y/Y and, seasonally adjusted, by 2.4 per cent – the worst reading since 2009. It is the second consecutive quarterly contraction and takes growth for the year as a whole to just 2.6 per cent from a more usual 7.4 per cent growth in 2017.

US aeroplane-maker Boeing takes out full-page adverts in newspapers today plugging ‘The Future of Aircraft is built here’ 777-9 and 787-10 Dreamliner. This follows the crash of a 737 MAX 8 plane in Ethiopia over the weekend, and the subsequent grounding of all this type of aircraft in Ethiopia and today in China.

Financial Markets and Political Commentary
 

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