European major indices close mostly lower but well off low levels

Major European indices are closing mostly lower, and well off low levels for the day. A snapshot of the closing levels shows:

• German DAX -164.90 points or -0.73% at 22375.09. At session lows, the index is down -400.72 points
• France’s CAC -17.53 points or -0.22% at 7858.84. At session lows, the index is down 83.39 points.
• UK’s FTSE 100 -26.32 points or -0.30% at 8608.49. At session lows, the index is down -86.49 points.
• Spain’s Ibex +53.19 points or 0.40% at 13350.20. At session lows the index is down -61.71 points.
• Italy’s FTSE MIB -103.18 points or -0.27% at 38454.19. As session lows the index is down -514.59 points.

Technically for the German DAX, the low prices this week have stalled ahead of an upward sloping trendline currently at 22089.39. The low price today reached 22139.27. The price has been trading above and below the 50 day moving average at 22407.28.

This article was written by Greg Michalowski at www.forexlive.com.