CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Another breakdown on the DAX as selling continues

DAX Xetra (cash index)

Another bearish breakdown on the DAX this morning as the negative outlook continues to drag equities lower.

  • A move below the previous December low at 10,585 continues the bear move towards the long term target at 10,150 from the huge top pattern.
  • The next support comes in at 10,400.

Momentum indicators remain negatively configured as the MACD and Stochastics slip ever further into bearish positioning, whilst the RSI is falling but still a shade above 30 suggesting there is still downside potential.

  • There is a gap still open at 10,750 whilst the reaction low at 10,700 from earlier in the week means that there is a band of resistance overhead at 10,700/10,750.
  • Initial resistance is 10,585 (all but today’s traded high too) and yesterday’s reaction high at 10,686.

Richard Perry

Richard Perry

Leave a reply

Recent Posts

Subscribe to our Market Analysis

Please use the boxes below to indicate if you would like to receive news, market analysis and information from Hantec Markets. Ticking yes, will direct you to our preference centre where you can choose the content of interest to you. From there you may also opt-out of receiving any communication. The choice is yours.

Your data is safe with us. Please read our Privacy Notice

Start trading now

Register now in 4 easy steps