The German Index may open on a mixed note Tuesday amid Brexit uncertainty and escalating tensions between Saudi Arabia and the West. Asian markets are moving up after a week of heavy losses, although the overall upside remained limited amid rising geopolitical concerns. Economic confidence figures from Germany and unemployment data from the UK are due later in the session, headlining a busy day for the European economic news.
From a technical standpoint the DAX has broken down from an approximate horizontal trend channel in the medium term after investors have sold at ever lower prices. A negative signal has been triggered and further decline for the index is indicated. The index has resistance at points 11895 and 11940 and the RSI looks slightly bullish today signaling a rally to the resistance. On the long-term, the DAX remains in a rising trend channel and overall assessed as technically neutral.
Support: 11460 10785
Resistance: 11895 12185