The German Index look set to open lower on Monday as concerns over trade tensions returned to the forefront, with G20 finance ministers and central bankers warning about increased risks to global economic growth. Automakers fell heavily on Friday as Trump's threat to expand tariffs on all Chinese imports fueled concerns that a global trade war could expand to the Eurozone. The European Central Bank will review its monetary policy on Thursday, and also this week's agenda features US data on new and existing home sales, durable goods orders and the preliminary reading on second quarter GDP.
The index dropped below the support at €12,640 and still looks like it's going to slide lower today and test the next support area around the €12,400's.
Support: 12640 12410
Resistance: 12780 12900