DAX Chart Technical Outlook

DAX Chart Technical Outlook (DE40) corrects lower toward 16,870

DAX (DE40) trades back inside the recent corrective range. The bullish momentum is fading, and more losses toward the following barriers are expected.

DAX broke higher earlier this week on lower prints in inflation and better business activity from Germany but failed to stay above the broken level as industrial production failed to meet expectations.

I expect a downside price action toward 16,870. If broken, 16,800 is the following support. Resistances are located at 16,970 and 17,050.

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