The DAX lost 146.1 points yesterday and closed at 11499.9, its lowest level since February 2017, impacted by U.S equity markets losses, US-China trade tensions, and concerns over global growth with the German government cutting its 2018 and 2019 growth forecasts. In economic news, German CPI will be released today at 06:00 GMT, Eurozone Industrial Production at 09:00 GMT, and the ECB will release the details from its August policy meeting at 11:30 GMT.
The Dax ended yesterday's session with a daily close outside the lower band of the Bollinger bands indicating strong bearish momentum, trading in a downtrend parallel channel and reached the 11435.9 support level to close above it. Price divergence with momentum indicators have formed on the hourly chart awaiting further confirmation on the 4H timeframe. A bullish break of the parallel channel will have prices retest the 11706.2 resistance level.
Support: 11435.9 11033 10817.4
Resistance:.11706.2 11898.4 11997.