Worries over interest rates and inflation expectations sent global equities lower yesterday with the German DAX tumbling over 250 points to the 13700 support level and it seems that futures are still weak in early European trading today, despite Germany’s Deutsche Telekom reporting forecast-beating Q4 results. Looking ahead, a slight rebound from here is highly likely given the rapid drop lower yesterday, but the 13800 level may act as resistance triggering further declines with a breach of the 13700 support level to send the German blue-chip index lower to the 13600 level.
Support: 13700 / 13600
Resistance: 13800 / 13860
