DAX Xetra (cash index)
Despite an early dip back today, the outlook for the DAX continues to improve.
A couple of strong positive candles have pulled the market above the moving averages for the first time since the February sell-off and continues the run higher within the uptrend channel of the past five weeks.
With strong configuration on momentum indicators, a move towards 13,000 is still likely, with weakness being bought into.
A slight air of risk aversion (ahead of Trump’s announcement on Iran) has pulled the reins slightly, but as yet there is little to suggest anything malign about this correction.
Anything that starts to show positive signals again with the RSI retreating towards 45/50 on the hourly chart could be that opportunity.
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