Wed, Feb 01, 2023 @ 18:40 GMT
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DAX 40 Struggles for Support

The Dax 40 fell back as traders took profit ahead of a data-intensive week. The bulls have struggled to lift offers around June’s peak of 14650. Instead, a fall below 14350 prompted short-term buyers to take some chips off the table. The former demand zone around 14400 has become a supply one, and more sellers would join the rank if the buy side fails to reclaim it. The recent low of 14150 sits on the 30-day moving average and is a major support. The index could be vulnerable to a deep retracement should it be pierced.

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