• DAX broke support zone
• Likely to fall to support level 15500.00
DAX index continues to fall after recently breaking the support zone lying between pivotal support level 15700.00 (which has been reversing the index from the middle of last month) and the support trendline from the start of August. The breakout of this support zone follows the earlier downward reversal from the major resistance zone surrounding the round resistance level 16000.00, which started the active short-term correction (ii).
Given the worsening risk sentiment seen across the equity markets today – DAX index can be expected to fall further toward the next support level 15500.00 (likely price for the completion of the active short-term correction (ii)).