Overview on the Dax 40 as the German index continues to slide. Now approaching the support of 14,801

Taking a look at the Dax40 as the German index is continuing within its bearish trend, currently trading at around 14,866. We can see the index is now approaching yet another support level, which sits at 14,801 (dotted trendline). A break below could see the index slide lower towards the key support level dating back to the 20^th of March last year, this support level reads 14,458 (trendline below dotted). We may see some consolidation around the dotted trendline, which would attract bulls, potentially leading to a short-term bounce higher. But unless the descending trendline resistance is broken, we remain in the bearish trend. Additionally, it would be unreliable to point out resistance levels at this moment in time due to the market sentiment. However, if there is some consolidation then we would re-evaluate the near-term outlook. The technical indicators certainly validate the bearish bias as the MACD has turned negative once again, and the RSI keeps faltering as it reads 33.