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Steve O’hare from First 4 Trading is looking to sell the DAX Index. He says the price action on Monday was bearish and that the slowing bullish momentum indicates further weakness lies ahead.

He adds that prices have managed to drop through the hourly Ichimoku cloud support, which has managed to sustain the trend higher over the last two weeks. 

As a result, Steve is looking sell in front of 8650, with risk at 8690, and his targets are 8610, 8585 & 8550.

European stocks remained mostly lower on Monday, following the release of a string of eurozone manufacturing data.

Germany’s manufacturing PMI fell to 51.3 in September from a final reading of 51.8 in August, while the services PMI rose to a seven month high.

Separately, Chancellor Angela Merkel's conservative party won the German general elections on Sunday. Ms Merkel is now seeking to form a governing coalition with an opposition party.

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