DAX remained in red figures on Monday. The increasing selling bias around the index fuelled the downside momentum around the benchmark. DAX gapped downwards to the level 12300 where the price bounced and moved to the 12350 area. The moving averages started to decline. MACD traded to the downside as well. RSI remained in the oversold readings. The resistance stands at 12400, the support is at 12300.
If sellers do not attack 12300 today, DAX may recover to the 12400 area.