The DAX retraces 2.71% for today

The DAX index from Germany comes back to the downside and it drops 2.71% from yesterday’s close, but the index is actually in a consolidation. The 9 period Stochastics on the daily chart are pointing to the upside, but a bearish cross could mean that the index is trying to go back to its bearish trend. If the index breaks below the 9886 level, then it may try to go and visit the low at the 9313 zone, which could act as support. To the upside, a breakout above the 10385 could take the index to the 200 day exponential moving average, around the 10863 level, which could act as resistance.