CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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. 73% 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.

DAX struggling for the bulls to gain traction

DAX Xetra (cash index)

There is a continuation of the uncertain outlook on the DAX, something which is depicted well through yesterday’s session.

Another volatile session, of 250 ticks, the candlestick shows long upper and lower shadows and a very small real body.

There is though a trend lower still intact over the past four weeks, along with medium term negative configuration on momentum indicators.

This suggests that rallies continue to be a chance to sell.

  • The support at 11,310 is intact from earlier this week, however the run of lower highs is still restrictive of a recovery.

Once more this morning there is a very muted tick higher on the DAX and the move lacks conviction.

  • The bulls will be looking to push above 11,567 but the hourly momentum still looks corrective and there is a sense that the sellers are still ready to pounce once more.

 

Richard Perry

Richard Perry

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