DAX 30 (1H) - short term bullish bias
Global equity markets continue to break into new highs thanks to improved sentiment. The risk-on mode may well carry the German index towards the January 2018 high. For short term traders, there are opportunities to join the trend at a discount price which can be found near the bullish trend line. The RSI has entered the over-bought area and we may expect a temporary pullback, in which case the moving averages could also provide support.
Key support: 13150
Key resistance: 13300
Global equity markets continue to break into new highs thanks to improved sentiment. The risk-on mode may well carry the German index towards the January 2018 high. For short term traders, there are opportunities to join the trend at a discount price which can be found near the bullish trend line. The RSI has entered the over-bought area and we may expect a temporary pullback, in which case the moving averages could also provide support.
Key support: 13150
Key resistance: 13300