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GER 40 To Test Major Resistance

The Dax 40 recoups losses as fears of the omicron variant start to subside.

Last October’s lows near 14900 have proven to be a solid support. The rally above 15520 stirred up volatility as the last sellers rushed to the exit. The bulls are pushing towards 15920, where the index took a nosedive in late November.

A bullish breakout could attract more buying interest and turn market sentiment around. Meanwhile, an overbought RSI has caused a pullback, giving time for the bulls to accumulate. 15300 is the closest support.

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