DAX Xetra (cash index)
The recovery of the past three weeks has been consolidating in recent days as the overhead supply and resistance around 11,000 has become a ceiling.
It is interesting to see that the early rebound today on a risk rally has once more failed under the 11,000 resistance.
Momentum is positive with the RSI above 60, MACD lines tracking higher and Stochastics above 80 and interestingly, the 21 day moving average has now turned higher for two consecutive days for the first time since August.
The importance of this resistance is growing by the session.
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