Major European indices end the session mixed
The German DAX is snapping a 3 day slide with a modest 0.13% gain. Overall the market results were mixed and European equity markets. Provisional closes are showing
- German DAX, +0.13%
- France’s CAC, -0.19%
- UK’s FTSE 100, -0.22%
- Spain’s Ibex, -0.8%
- Italy’s FTSE MIB, unchanged
The German DAX fell close to 13% from its October high, best concerns about growth with Covid cases rising.
Looking at the daily chart below, the German DAX price fell down to test the 38.2% retracement of the move since the March low. That level came in at 11472.94. The low price today reached 11458.56 just below that level, but could not sustain momentum. Keep that level mind going forward. Stay above is more bullish, move below and we could see further probing to the downside.