The German leading index is coming under increasing pressure.
The DAX future / DE30 is falling today, pulling back from the high for the year, which was reached yesterday at 16,056 points. The record high remains the key resistance – the gap is around 400 points. In case of further losses, the breakout level at 15,698 points and the intermediate high at 15,463 points could be targeted.
The DAX future / DE30 slipped below the low at 15,901 points, falling to its lowest level in six days. The technical situation has deteriorated in pre-market trading today – see crossover and lower lows and lower highs. With no sign of life from the bulls, the index remains vulnerable to further losses.
Maximilian Wienke, CFTe