World News – CA – DAX Index: Trade Confidence Collapses with Lower Plunge

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Trading on the DAX index started with another crippling drop as investor confidence turned extremely nervous

The DAX index was hit sharply again this morning The German index crosses the stocks it last saw in mid-June A short-term technical chart is not enough to have a perspective on the amount of damage suffered by the DAX index since mid-October If speculators have been unfortunate enough to be on the wrong side of trade and have pursued short-term upward reversals, they have likely suffered large cash losses this week.

It is clear that risk adverse trading has taken hold of the DAX index and the reasons are complex.However, the combination of coronavirus concerns hitting Germany and much of Europe, as well as the unknowns lurking due to the upcoming US election, are certainly a partial cause of the nervous trade that has ensued since this week. The future American markets also indicate a potentially penalizing start to the day for the American indices when they open

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The DAX index plunged to a low near 11,630,000 early today and has since seen a slight rally Speculators who paid attention may have used this morning’s lows to build up a short-term position and cashouts based on the idea that some type of rollover would occur.However, standing in front of an oncoming freight train that has the capacity to punish you is a terrifying prospect for many Buying the German index under these current conditions will take a lot of courage and risk management capacity

Speculators brave enough to look for upside potential might target the 11775000 junction as a resistance mark And purely optimists might even aim for extra momentum towards the 11860000 level Yes, those resistance levels are newly ‘hit’ so means they technically exist due to the large spread that was created when the DAX index plunged this morning

Traders who don’t feel optimistic about the current state of the DAX index and think the shadows will prevail over the global indices may want to be short using limit orders. If the German index is able to climb higher in an attempt to trace the early chaos that was demonstrated earlier today, selling the DAX index near the 11,750,000 junction may be an opportunity to catch another leg. down Stock indexes are suffering from anxiety and this is likely to continue in the short term

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Stock market index, DAX PERFORMANCE-INDEX, Trader