Randomehro

DAX broke the trendline from 2009

Short
XETR:DAX   DAX Index
It does not look good for DAX since it broke the trendline from 2009 on the linear scale. (on log scale it was broken earlier).
It was a terrible year for DAX investors since it fell from its ATH @13577 to 10719 (8th Dec). Now its officially more than 20% this year, and the sentiment is very bearish . Only 6 companies from DAX are still in (+) this year.

Technicals:
- The main trendline since 2009 was broken on both scales (log / lin).
- The targets for Fib-retracements are: 10577 and 8700.
- Support lines around 10080 and 8150 (from Jan 2008).
- On the short-term scale its quite oversold (oscillators) and a bounce can be expected to the upside retracement or trendline.

Main events on the globally interconnected markets:
- Interest rate politics in US and Europe
- Trade war and uncertainty make a serious damage
- Brexit
- Tensions between Russia and Ukraine
- Power is slowly shifting in Germany
- Escalation of protests in France

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