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DAX narrowly avoids a close below 200 day moving average

On Friday the DAX narrowly avoided a daily and weekly close below its 200 day moving average, at 15,549. The index closed the week at 15,557, after falling to as low as 15,471 earlier in the day. I noted earlier in the session; that it was one thing to open below this technical level (which it did when opening at 15,473), but another thing to close below it, which as you can see it did not. However, the DAX futures have not really capitalised on that close and are struggling for traction right now this morning. The index future is once again pricing a reopening below its 200 day moving average, after an earlier modest rebound blew out at around 15,565. That opening outlook might change in the next hour though, but as things currently stand the index is set to reopen at around 15,530

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