 Hello, welcome to today's CMC Markets indices snapshot with myself Jasper Lawler. Today we're going to be looking at the German DAX, the top 30 stocks in the German stock exchange. And business sentiment, investor sentiment in Germany has been a big slack recently, but we saw an uptick today with an improved German manufacturing PMI survey. So we're going to look at the possible implications going forward with the situation in Ukraine, situation in China, how that's going to impact things, as well as a promising chart pattern for the German DAX. The German economy is looking pretty strong right now. We've seen GDP growth of 1.8% annually, inflation of 1.4%, so less than the GDP, unemployment rate at 5.4%, that's less than half of the Eurozone average unemployment rate. And so far the German recovery has been mostly boosted by consumption, obviously the strong labour market, good average earnings, and those low inflation and low interest rates are disincentivising saving and encouraging consumption. Business sentiment, as I mentioned, has been a bit slack recently, a lot due to the concerns over Ukraine, but today we did see an improvement in the services and manufacturing PMIs turning around recent declines, still way above 50 and still showing an expansion in the economy, and tomorrow it will be interesting because we have the IFO survey results, and so that will be another indication as to whether this improvement investor and business sentiment is improving in the country, and that will kind of fix that thing that had been declining in the economy to date. The global stock indices are, of course, very correlated these days, so the DAX is not immune to factors outside Germany. The big consideration worldwide at the moment is quantitative easing and the tapering thereof from the US Federal Reserve. So far data out of the US has been positive and the Federal Reserve has been continuing their tapering programme, and the US stock markets have been performing well with that backdrop, and that sets up well for the DAX. The other consideration recently has just been the geopolitical situation in Russia with the situation firstly in the Crimea and now in eastern Ukraine. There has been a peace cord signed between Russia, the Europe and the US, so hopefully that will bring a gradual close to this chapter, and again that will be cause for positive sentiment when trading German stocks that might have otherwise been affected by this and their trade links to Russia. Now if we swing over to the price chart for the Germany 30, representing the German DAX, this is a weekly candlestick chart and shows the fairly rapid rise that we've seen in the German index over the past few years since the low around 2009. The important considerations to look at here are the long term price trend line. What you can see recently is that a couple of the recent weekly candlesticks have moved down through that trend line but have not managed to weekly close below it, generally signifying that the trend line has still held. Right now we're stuck in this horizontal range between 9000 and 9700 to 730. What we're seeing though is that the RSI is giving us some clues that perhaps this correction may be over and we can see a potential breaks higher out of this 9730 resistance area just by the fact that the 40 level has not been broken and you can see on previous stronger corrections the 40 level on the RSI was broken and then we can also see on the RSI that this down trend line has been broken higher and sometimes what can happen is that the RSI will move and break out of a trend line before the price does. So if in this situation the RSI is moving ahead of the price what we could expect is a move higher out of this range and above 9730 for the DAX. That's it for today's indices snapshot with myself Jasper Lawler. Thanks very much for watching. We'll look out for the German IFO results tomorrow and also going forward we've got the German unemployment and retail sales data next week so that will also be important for the DAX. Thanks a lot.