The Dax 40 recouped losses as investors saw a bargain hunting opportunity. On the daily chart, the RSI’s double top in the overbought area suggests overextension after the index recovered to a 11-month high. A break below 15100 then the psychological level of 15000 has prompted complacent buyers to look for the exit. The bounce may come under pressure at 15130 and only a close above 15250 would resume the uptrend. 14950 is a fresh support and 14800 further down is the next level to gauge buyers’ interest.
