The Dax 40 struggles as tensions escalate in Ukraine. The index has met stiff selling pressure in the former demand zone (12690) from the daily chart, which also coincides with the 30-day moving average. A combination of profit-taking and fresh selling has triggered a liquidation of short-term long positions. 12100 at the origin of the previous bullish breakout is an important support. Only a rally back above 12500 may turn the situation around or the index could be vulnerable to a new round of sell-off below 11800.
