Risk of a possible triple top on the Dax 40 if looking at the daily chart. We can see the German index has approached the level of 19,050 for the third time, failing once again to close above it. As a result, it is down today by around 1% and now trading at around 18,805. The near-term support here for traders is the level of 18,597, a break below here could shift the focus to the level of 18,187. Only a clear move below the support of 18,187 could lead to further downside as this may indicate the lack of confidence in the Eurozone with regard to cuts from the ECB and inflation. The index has practically moved sideways since May and this possible failure to break above 19,050 could mean that it may continue in this manner until after the US elections. As the US elections are now widely anticipated as the next catalyst for global markets, increased volatility along with some stagnation may now be underway until after the election. A clear break with a close above 19,050 would, in theory, fade some of the concerns mentioned above, however, just because new highs are reached it does not rule out the potential for high volatility. Some of the pessimism also stems from the positioning of the technical indicators. Even though the MACD is currently positive, it hasn’t kept up with the movement of the price. Potentially forming a lower higher and suggesting a bearish divergence. The RSI is also now faltering as it reads 58 from yesterday’s 64.