DAX pushing above key resistance, but more hurdles are waiting

The DAX managed to push above the key 11,200 level today, but it could have difficulties to keep up with the recent bull run. The 200-day MA, 61.8% Fib and a rising trendline resistance all await near 11,700.

Although some major market reports came in better than expected, such as PMIs, the eurozone is still far away from a recovery. I am sitting on my hands for this one.