DAX has been in a real uncertain territory over the last several weeks,
Price has been fighting to break the weekly TL support which spans over 1610 days.
Finally last week we had a close above the weekly TL support, with support at 10k helping to create a price floor which prevents it from going lower.
The week closed with a very nice pin bar, so as of now I am bullish again on DAX as long as price can remain above the TL. We could very well see tests of 10950 which in my opinion is the next major level of resistance for DAX. In confluence with the previously broken bearish channel if price can break above we could very well see Seasonal momentum push DAX to at least 11800 by the end of this year.
Price has been fighting to break the weekly TL support which spans over 1610 days.
Finally last week we had a close above the weekly TL support, with support at 10k helping to create a price floor which prevents it from going lower.
The week closed with a very nice pin bar, so as of now I am bullish again on DAX as long as price can remain above the TL. We could very well see tests of 10950 which in my opinion is the next major level of resistance for DAX. In confluence with the previously broken bearish channel if price can break above we could very well see Seasonal momentum push DAX to at least 11800 by the end of this year.