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The next level to watch on the DAX
As the DAX falls further today, just like the FTSE 100, noted in a slightly earlier update, the index is approaching a technical support level. As far as the DAX is concerned that is also its 50 day moving average, which is in place right now at 18,347. The DAX has not been below its 50 day moving average since May 6. The low seen so far this morning has been set at 18,350. So, as you can see it has almost touched that technical support level and subsequently bounced from there. The index has rebounded back to around 18,390 now, but it remains to be seen, if this technical level will stall the next downside move, if there is one to come. The DAX is just now trading at 18,373
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