The European indices close mostly lower with the German DAX bucking the trend.

Today, European stock markets showed mixed results today:

• German (DAX): Closed at 17,680.41, up by 65.25 points or +0.37%).
• France CAC: Ended at 7,247.46, down by 18.56 points or -0.26%).
• UK FTSE 100: Finished at 8,144.98, decreasing by 21.91 points or -0.27%).
• Spain’s Ibex: Ended at 10,557.99, down by 41.02 points or -0.39%).
• Italy’s FTSE MIB: Finished at 31,741.92, decreasing by 89.71 points or -0.28%).

Looking at the daily chart of the German DAX, the low price today and yesterday found support buyers near it 200 day moving average at 17452.40 after closing below that moving average on Monday and Tuesday helped by the new guys point of -12.4%. The price today is also closing back above a swing level at 17626.90. Buyers are building the technical story on the moves above these levels.

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