The Dax 40 sinks as expectations of high interest rates continue to drive global equities south. A break below 13850, a support on the daily chart, prompted short-term bulls to close their bets. The fall below May’s low and critical floor at 13300 came in as a coup de grâce. This may seal the bearish fate and trigger another round of sell-off. The psychological level of 13000 would be the next support. 13600 is a fresh resistance and the bears may look to fade a rebound as the overall mood remains extremely bearish.
