The Dax has approached a key level of support along the 100-day moving average (15,754).

Taking a look at the German index Dax as it has now approached a key level of support on the daily timeframe. Currently, it's trading at around 16,892 with the support sitting along the 100-day moving average (red trendline), or respectively, 15,754. A break and close below this point could see the index slide further towards the support sitting at 15,624 and then at 15,488. If we see some consolidation, then we will look towards the resistance levels above. Resistance levels above are sitting at 16,004 (50-day MA) then at 16,072 (20-day MA). A move above the 20-day moving average could see the Dax rise higher, back to its all-time highs. Looking at the technical indicators, MACD is still negative with RSI also negative as it reads 41.