DAX Xetra (cash index)
The improvement in risk appetite continues to pull the DAX back higher once more and is looking for a decisive closing move above the near term resistance at 12,925.
Can the bulls make the break?
Momentum indicators are signalling that the market is positioning for the move, with the RSI rising above 50 and a two week high, whilst the Stochastics are similarly improving.
A pivot around 12,925 which capped the run higher last week has been initially breached on a gap higher at today’s open, however the market has slipped back again.
Filling the gap to close above 12,861 would be positive, with a subsequent close above 12,925 being the key near term sign of strength the market is looking for.
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