The German DAX contract (DE40) is down more than 1.5% today, and the technical setup on the chart is looking increasingly challenging for bulls. The index has already dropped by nearly 1,000 points from its all-time high.
- The DAX contract is approaching a test of the 50-session exponential moving average (EMA50). The RSI has slipped below 47, and the MACD is showing a bearish crossover of its moving averages. This average currently appears to be acting as an important momentum support, and if it is broken, the path…