Dax Turns Away From Support

The German DAX index achieved noticeable gains as we expected, touching the target at 13,410 and a peak at 13,430.

Technically, with the index being able to build on a support floor of 13,330, in general, above a strong support floor of 13,220, with the 50-day moving average in support of the rising curve of prices.

This encourages us to maintain our positive expectations, provided that the breach of 13,430 is confirmed, and breaking it will accelerate and confirm the strength of the daily bullish trend towards 13,475 then 13,520.

Trading below 13,330 delays the bullish chance, but does not cancel it, and we may witness a re-test of 13,230 before continuing the rally again.