DAX Xetra (cash index)
A significant deterioration in sentiment has seen the DAX making a key breakdown of support in a move that marks another milestone in the sell-off.
An intraday rally did not last long yesterday and closing lower with a big bear candle has been followed today with a big gap lower at the open.
Initial support at 11,459 has been breached but also just as importantly the support at 11,400 has been breached.
Momentum indicators remain deeply negatively configured, with the Stochastics and RSI in bearish decline, whilst the MACD lines are accelerating lower.
Any technical rally is now a chance to sell.
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