Live Chat

DAX continues higher but can it make the breakout?

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.

  • This would then initially mean a test of 13,040 but the key May high at 13,204 would be the main implication.
  • Closing the gap (a closing price today below 12,861 would be a concern for the continued upside, whilst a move back below yesterday’s low at 12,750 would now be a disappointment and suggest the bulls have again failed to grasp control.

Ready to start trading?

Open an Account Try Demo

  • Archive

  • Topics

  • Videos

Research Risk Warning

At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.