Major European indices recovered from lows and close marginally lower

German DAX -0.3%

The major European indices are closing lower but have recovered a large chunk of the earlier declines.  A summary of the provisional closes and ranges are below:

  • German DAX, -0.3%
  • France’s CAC, -0.4%
  • UK’s FTSE 100, -0.8%
  • Spain’s Ibex, -0.3%
  • Italy’s FTSE MIB, +0.5%
The low percentage changes for the major pairs reached:
  • German DAX, -2.94%
  • France’s CAC, -3.05%
  • UK’s FTSE 100, -2.5%
  • Spain’s Ibex, -3.15%
  • Italy’s FTSE MIB, -3.1%
looking at the daily chart of the German DAX, the price low got closer to its falling 100 hour moving average at 11448.09. The low for the day reached 11597.82.
The index remains below its 200 day moving average above at 12141.01.
Trading between the 100 day moving average below and the 200 day moving average above will keep the buyers and sellers guessing. The direction will likely be contingent on the expectations for the coronavirus going forward.