HomeContributorsTechnical AnalysisDAX 40 Tests Rising Trendline

DAX 40 Tests Rising Trendline

Stock markets fall as a robust US labour market may stir up the Fed’s hawkishness. The rising trendline is a sign of improved sentiment and a close above 13650 at the tip of a faded rebound in mid-June indicates a strong bullish bias. However, the RSI’s repeated overbought situation signals an overextension and could cause a pullback. 13550 on the trendline is the first support and 13330 could test buyers’ commitment. A bounce above 13780 may attract more momentum buying, sending the Dax towards 14050.

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