The DAX continues to make lower highs while also holding support at 16,500

The DAX continues to create lower highs on the daily timeframe with support towards 16,500.00 (as seen on the blue line). A break below 16,500 could see the index grind lower towards minor resistance at 16,421 and then 16,000 if support fails to hold. Right now RSI reads 51 suggesting fair value with no clear directional bias. MACD is also fairly negative still. Towards the upside, a break above 16,800 could bolster a move towards 17,000.00.