DAX higher exactly as predicted on Friday as we beat resistance at 12182/185 and 12220/230 for the main challenge for bulls at 12290/295. We topped only 23 ticks above here but no big sell off. The strong close could signal further gains today targeting 12340, 12375/380 and perhaps as far as strong resistance at 12410/420 for some profit taking on longs.
Failure to beat is the most important resistance of the day at 12290/295 targets 12250 and minor support at 12230/220. On further losses look for 12180/185 and 12150/145 before the 12088/085 low.
Strong support at 12060/050 is probably the best chance of a low for the correction as well we know. Try longs on the approach with stops below 12000. A break below 12000 however is another sell signal targeting 11975 and 11945/940 this week.