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DAX30 Hits 6- Months Low as Sell-Of Deepens - Market Expects a Recovery -

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    • DAX30 Hits 6- Months Low as Sell-Of Deepens – Market Expects a Recovery
Feb, 06th 14:29

The pan-European Stoxx 50  was 1.92 percent lower with every sector in the red. Autos, banks and insurance stocks were the most impacted by the sell-off, down by about 2 percent. The euro STOXX volatility index hit its highest level since April 2017.

But markets are clawing their way back from their worst levels, as investors cross their fingers and hope that we’re experiencing a correction, not a full-blown crash.

Stocks across Europe had opened with even deeper losses, but started to trim declines as U.S. stock futures swung into positive territory.

The FTSE 100 is down 146 points – or 2%, with heavier losses in Germany’s lower by 2.5% at 12,476.34. The CAC40 slipped 1.75% to 5,190.30

European markets had initially plunged by 3%, their biggest fall since the Brexit vote, after a day of heavy losses in Asia. But shares are rebounding off their worst levels, thanks to indications that Wall Street may open higher.

Investors fear a comeback of inflation would prompt central banks to tighten monetary policies faster than expected, scaling back from years of stimulus that boosted stock valuations and lifted European equities to 2 year highs in January.

DAX30 opened gap down, later recovered the market slightly. The market is testing the lower band of the Bollinger bands on the daily charts. Currently the market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 25.66 and the MACD  is below the signal line. The market is expected to recover the loss.

Trade suggestion:

Buy digital Call options between 12440 and 12530, valid until 23:00 GMT February 6th 2018