Technical Analysis

Major European indices close lower

With the UK still on holiday, the other major European  indices  are closing lower.

A look at the closing levels shows:

  • German DAX, -25.10 points or -0.17% at 14460.08
  • France’s CAC -15.14 points or -0.23% at 6485.31
  • Spain’s Ibex -19.3 points or -0.22% at 8724.81
  • Italy’s FTSE MIB -259.84 points or -1.06% at 24166

Looking at the German DAX, the decline today came after an earlier session rises to the price up to 14589.91. That took the price briefly above the high from a Monday at 14589.45, but momentum quickly faded and the price started to move back to the downside. By the close, the pair had moved back below its falling 100 day moving average at 14473.18. The price this week moved above the 100 day moving average on Monday (it closed above on that day), on Tuesday (a close below the moving average) and again today with a failure at the close.

In next week’s trading, the moving average will continue to be a barometer for buyers and sellers.

German DAX

German DAX trades above and below the 100 day moving average

For the trading week:

  • German DAX fell -0.01 him him him %
  • France’s CAC fell -0.47%
  • Spain’s Ibex fell -2.34%
  • FTSE MIB fell -1.98%
  • UK’s FTSE 100 fell by -0.69% in its shortened trading week

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