Back to Blog

DAX: Are the bears back in town?

The increased optimism seen since the beginning of the year in equities was shaken on Monday following reports that the Spanish PM might be involved in corruptive activities. Indices around the continent fell with the DAX closing the day about 180 points down. At 7.647 at the time of writing, the bulls are trying to take the upper hand, but it looks like we will see some consolidation here before a major movement comes. Yesterday’s big fall puts the near term support area seen around 7540 in focus. A break below that area would open the way for the next key support area at 7390. In the alternative scenario, we would need to see a break above the previous high at 7822 in order for the bullish trend to be re-established. Onto the main topics of today, the focus will be on EU Retail Sales during European hours. Later today, eyes will be on the US ISM Non-Mfg Index.

Dafni Serdari
Market Analyst
The comment in this blog is the personal opinion of the contributors and not The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.

Share this post

Back to Blog

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading these products with this provider.
You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.