The Dax 40 treads water as business sentiment remains sensitive to energy uncertainty. Optimism grew after the price broke above the supply zone around 13400. The sideways action suggests commitment to keep the rebound intact. A close above 13400 may raise bids to 13650, a key resistance from the mid-June sell-off and the bears’ last stronghold. A bullish breakout could lead to a full-blown recovery as sellers capitulate. On the downside, 13000 is a fresh support and its breach would send the index back to 12820.