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Lambert: DAX falls as global growth slows
Equity markets across the globe fell on Wednesday causing USD 255 billion to be erased from the STOXX Europe 600 Index and the European economy. Volatility in the equities market wasn’t isolated to Europe as US indices such as the Dow Jones industrial average closed the day down 173.45 points. Trading is expected to be unpredictable in these volatile market conditions but, Clive Lambert from Futures Techs believes this downward pressure is likely to continue.
The sell-off in equities is predominantly noticeable on the DAX Index, which has been moving lower since it broke below the important technical and psychological 8900 point level. Concerns over slowing growth, particularly in the German economy have pushed the index lower over the past few weeks. With further room for a move to the downside, Clive is looking to short rallies in the DAX. He is hoping to enter the trade around 8,680 points or 8,722 points. He is targeting a drop to 8,500 points or even 8,100 points. Given the markets current level of volatility Clive will be updating these figures throughout the day.
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01:14 minutes
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