German DAX down -3.88%. Investors shunning Italian debt
The major European indices are ending the day with sharp declines as coronavirus fears and global slowing weighs on the markets.
The provisional closes are currently showing:
- German DAX, -3.88%
- France’s CAC, -3.56%
- UK’s FTSE 100, -2.85%
- Spain’s Ibex, -3.95%
- Italy’s FTSE MIB -3.0%
Looking at the hourly chart of the German DAX below, t price today fell below the 50 hour moving average and trendline connecting recent lows . Going into the close , the price has also fallen below its 100 hour moving average at 10337.90 (blue line). The next target would be the April 8 low at 10198.22. Below that and traders will be looking toward the rising 200 hour moving average currently at 9856.97 (green line in the chart below)
