DAX beat 13180/13200 to target 13250 before reaching 13458, just short of the next target of 13465/475. Friday’s negative candle is a strong warning to bulls although not enough to trigger a sell signal in the bull trend.
DAX likely to trade sideways after the negative candle on Friday. First resistance at 13320/330 but above here targets 13375/385 before the high for this year at 13458.A break above
13465/475 obviously required not to target 13530/540 with key resistance at the all time high of 13590/596 of course.
Failure to beat first resistance at 13320/330 risks a retest of first support at 13250/240. Longs need stops below 13220 for 13180/160, perhaps as far as 13130/120.
Trends
Weekly outlook is positive
Daily outlook is positive
Short Term outlook is positive