The DAX 30 tumbles as investors rebalance their portfolios post-FOMC.
The index had struggled to hold onto the record high of 15800. The sharp sell-off below the support at 15550 is a sign that buyers are bailing out.
Stop-losses from leveraged trades compound to the downward momentum. The RSI shows an oversold situation.
From a medium-term’s perspective, the uptrend is still intact and the correction may attract bargain hunters above 15100. 15480 has become the immediate resistance level.
