DAX extends opening losses

As you surely all know by now, the DAX reopened lower this morning and that was always going to be the case. The index resumed live trade officially at 18,401.83, but that was a book entry and not a price to trade on. Effectively the index reopened at below 18,200. It has tried to rebound in the first 30 minutes of trading, but that has so far proved unsuccessful and given way to fresh downside and that has delivered a low so far at 18,163. The 21 day moving average has capped the downside for the index since January 23, but it is much closer into view this morning. Right that stands at 18,100. The price action is nervous right now, for all the reasons explained already today. So, it remains to be seen if the DAX will test and perhaps even break that noted technical level today. The DAX is actually now falling to fresh session lows, currently trading below 18,160