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DAX on the edge now

Further to many updates on the DAX in recent times, noting the potential importance of the support derived from its 200 day moving average, the index is now even closer to testing this level. It is just about intact for the time being, but it is under threat still. To remind the reader, the DAX has not traded below its 200 day moving average since November last year and the most recent price action has seen it rebound every time it has come even remotely close to it. Well, right now it is the closest it has been to busting below it and given how many times it has held recently, I would not rule out an extension to the downside, if it does give way. The index has traded to as low as 15,549 so far. The 200 day is in place at 15,543. The index is just now trading at 15,555

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