DAX under pressure again

Due to the geopolitical conflicts in the Ukraine and Israel the German Stock market is under pressure again. The important support at 9792/9795 points was broken for the second time in July. 

bg_dax_1369829
Source: Bloomberg

A successfully test of the trend line at 9631/9647 points and the increasing 200-days-moving average (weighted) at 9660 points would be very helpful. Currently another test of the mentioned supports is running. Below this price levels the lower trend channel line at 9550 points could be the target.

Another problem is the seasonal weaknesses of the summer especially in the months from July to September. In the past decades the DAX lost value during this period.

Above the moving average at 9660 points and the trend line at 9631/9647 points a countermovement to the former support at 9792/9795 points would be possible. 

Capture
German Stock market DAX on daily basis /IG Charts

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.