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You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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DAX under increasing pressure as bullish arguments fall away
DAX Xetra (cash index)
The bulls have lost control of the recovery as the DAX has decisively breached the key breakout support at 11,370.
This now runs the risk of the DAX turning increasingly corrective once more.
Since the early high of 11,823 the market has fallen over 450 ticks in the past few sessions, and has gapped lower once more today.
A move below 11,415 has breached a run of higher lows and also breached the support of the three month uptrend and comes with increasing deterioration in momentum indicators.
The RSI falling below 40 would be a real concern, as would the MACD line falling below neutral.
Both conditions are not there yet.
With 11,823 now seen as a key resistance (interestingly in the middle of the long term pivot band resistance 11,725/11,865) here is a lower high from Friday at 11,624.
Richard Perry
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