Back to Blog

DAX: Further downside potential below 7155

After two days of consecutive losses that dragged the German benchmark back to the strong support area at 7140, the market started the day on a negative footing this morning. As the Obama win euphoria fades out, investors are now focusing on the fundamental issues on both sides of the Atlantic. With the US facing the fiscal cliff riddle and the ECB President stating that the euro crisis starts to hurt the German economy, it looks like there are choppy waters ahead for the DAX. As long as the negative trend line that is capping the price movement on the 30 min chart remains in place, the technical set up favours short positions. At 7161 at the time of writing a downside penetration of 7155 would expose the 7105 level. Another quiet day on the European economic data front keeps the focus on US event risks with the US Consumer sentiment among the most notable.

Dafni Serdari
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.