Dax Pulls 11260 Into Target
Fiona Cincotta March 6, 2020 7:51 AM
The Dax has plunged a further 3.5% across the morning session on Friday, extending losses of 1.5% from the previous session, as coronavirus fears escalate.
The Dax has plunged a further 3.5% across the morning session on Friday, extending losses of 1.5% from the previous session, as coronavirus fears escalate. The morning of losses comes following another volatile session and steep losses on Wall Street.
Levels to watch
The Dax has dropped over 15% since its all-time high the 20th February. It broke through the ascending trend line which has been in tact since late December 2018 and failed to retake it, in a clearly bearish chart.
Immediate support can be seen at 11455 (today’s low). A break-through here could see the price tumble to 11266 (low 15th August).
On the upside, resistance can be seen at 11769 (today’s high) prior to 12150 (trend line support) and 12200 (yesterday’s high).
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