DAX Xetra (cash index)
The bulls continue to push forward as another positive session completed yesterday with a close above the psychological 13,000 barrier.
A near term breakout above 12,960 leaves support at a higher level and the market continues to run higher with a sharper two week uptrend within the five week uptrend channel.
Momentum indicators remain positively configured and continue to suggest that near term corrections remain a chance to buy.
The steepness of this two week uptrend means that any consolidation will now potentially break the uptrend and this is what could be about to be see today as the early slip back comes in today’s session.
The hourly chart does also show that the market has not broken a higher low since 25th April.
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