The German Index or the DAX consists the 30 major German companies trading on the Frankfurt Stock Exchange. Chart-wise, it looks like the German stock index does not share the same fate as the Dow Jones Industrial Average, Nasdaq Composite, S&P 500 and the FTSE 100 as we do not see any head and shoulders in its chart. The value currently moves in a trading range and is pointed downwards. The immediate support of the trading range could hold on to DAX from further falling. If it does not and a slippage takes place, the next support could be 5,607.68. If the index starts going up, it could encounter some selling pressure at the 6,000.00 psychological level. If that hurdle gets cleared out, the next resistance could be 6,341.52.
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