DAX Xetra (cash index)
A run higher within the two week uptrend channel has just taken a pause for breath this morning but the move is likely to be seen as another chance to buy.
Support of the uptrend comes in at 12,580 today and there is still the support of the medium term pivot around 12,600.
However traders will be looking at the potential of a filled gap at 12,689 as an opportunity.
The strength of the momentum is now as such that near term corrections are a chance to buy as they help to renew upside potential.
The daily RSI is into the mid-50s, whilst MACD lines are accelerating higher and the Stochastics strongly configured.
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