1-hr DAX40: Strong Downward Momentum in German Stocks

27 nov

The DAX40, Germany's leading stock index, is currently under heavy selling pressure. This bearish momentum is reinforced by the appearance of a Death Cross—a key technical indicator where a shorter-term moving average (MA) crosses below a longer-term MA, signaling strong selling activity. Recently, the RSI dropped into oversold territory, prompting a corrective bounce as buyers took advantage of lower prices. This pullback may continue toward 19,340, coinciding with the crucial 61.8% Fibonacci retracement level. If this resistance holds, it could attract sellers aiming to capitalize on the prevailing downtrend, offering favorable risk-to-reward opportunities.