The DAX stays muted following Germany’s downbeat retail numbers in April. The index is looking to hold on to its recent gains after it broke into new highs.
On the daily chart, the 20-day moving average crossing above the 30-day one suggests an acceleration in the rally after a month-long consolidation. 15800 would be the next target as trend followers rejoin the action.
In the meantime, the latest surge has sent the RSI into the overbought area. A temporary pullback is likely to seek support above 15410.
