DAX - further consolidation ahead

Markets have been struggling to find a clear direction split between :
a. improving macro and solid quarterly earnings
b. corona virus uncertainty and simply the need for respite after a huge 2019.

With most of the Fangs having released their numbers, the effect of earnings could be waning. Additionally, without any new bullish catalyst expected in the short-run (phase one deal is priced), the bears could be taking the upper hand.

DAX intraday : The downside prevails as long as 13380/400 holds. The index held below pivotal point 13380/13400 and could be aiming the 13000 level.

Intraday supports: 13150 (previous low), 13000, 12900
Intraday resistance 13200 (week pivot ), 13311 (gap), ***13380/400

The technical rebound of yesterday did not extend, suggesting the downside is not over. On the daily chart, technicals are weak with falling RSI, MACD nearing the zero, and a move back below the 50d moving average. A breach below 1300 would pave the way for major support at 12635.