DAX remains at the back foot on Thursday and consolidating within narrow range after pulling back strongly from fresh all-time high at 13530. Dips were so far contained by rising 10SMA (13359) which marks initial support and trigger for deeper pullback on firm break below it. Daily RSI is attempting to reverse from overbought territory and has formed bearish divergence, could trigger stronger bearish signal on break lower. Also, MACD bearish divergence adds to existing pressure, however, sustained break below 10SMA is needed to signal further easing, which could stretch towards rising 20SMA (currently at 13174).
Res: 13417, 13501, 13555, 13618
Sup: 13359, 13244, 13174, 13144
