The Dax 30 hits a record high supported by the ECB’s accommodative monetary policy.
The index has bounced off the 20-day moving average, an indication that the bulls are still willing to commit more chips.
The latest consolidation on the hourly chart has found solid support above 15500. A new high above 15720 and a bullish MA cross could attract more trend followers with the psychological tag of 16000 as a target.
As the RSI drops back to the neutrality area, bids may be lurking around 15560.
