HomeContributorsTechnical AnalysisGER 40 To Test Major Resistance

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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