The German leading index is recovering slightly today.
The DAX future / DE30 is trading slightly in the red for the week. A new breakout attempt above the high at 15,815 points would bring the record high closer – the gap is less than 4%. In the event of a correction, the intermediate high at 15,463 points could be targeted.
Since the crossover (EMA20 and EMA50), the index has repeatedly reached higher highs. In the short-term, a bottom was formed at 15,648 points – twice sellers have tried to break out to the downside. As long as the DE30 trades above the moving averages, momentum could come in again.
Maximilian Wienke, CFTe