Yahoo Finance DAX Index Daily Fundamental Forecast – February 9, 2018
The DAX index continued to move lower during the day yesterday as the stock markets around the world underwent another round of selling which only served to add to the panic and the uncertainty that continues to exist in the market. The index has been caught in a tight bearish grip and the latest round of selling could only play into their hands.
DAX Moves Lower
The volatility in the DAX index has been going up over the last few days as the index dropped by a large margin at the beginning of the week only to rebound and bounce back during the middle of the week. But as we head into the end of the week, we are seeing another round of selling which has pushed the index towards the 12200 region and so far, the bears seem to be fairly in control. The stock markets have been the focus around the globe since the beginning of the week and we do not expect any respite for the markets as yet.
The fundamentals seem to remain the same and the data coming in from the various continues also shows that the major economies continue to show strength but it could be that the large run higher over the large few months has made many traders and investors jittery and they want to take some profit off the table at this point of time and see how low the markets can go before they jump into buying mode again.
Looking ahead to the rest of the day, we do not have any major economic data or news from the Eurozone or Germany and so we can expect the trend from yesterday to carry over for today as well. The US stock indices went through another bout of selling late yesterday and we can expect that to add pressure to the DAX for today. So expect a slow and low opening with the DAX being under pressure through the day.
This article was originally posted on FX Empire
