DAX extends losses to 1% as European equities fumble

Technical Analysis

Author: Justin Low | eur

The DAX is down to its weakest level since 26 March

DAX D1 15-08
After breaking below the 200-day MA (blue line) yesterday, it's not a pretty looking picture for the DAX. The brief recovery in risk earlier today helped to see some reprieve but now we're seeing all that fade away as the drop extends.

At current levels, the DAX is already down by more than 10% from the highs seen earlier this year. If price falls below the 26 March support, there isn't much standing in the way of a move back below the 11,000 level next.

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