The Dax 30 retreats as investors grow wary of the recovery’s momentum.
The index had only briefly held onto the 16000 milestone. The break below the rising trendline has put a halt to a month-long rally.
The current consolidation is a sign of indecision after a round of liquidation. An oversold RSI has prompted traders to buy the dip near 15600.
The rally may only resume if the bulls succeed in lifting offers around 15970. Failing that, price action could be vulnerable below 15600.
