Thu, Mar 30, 2023 @ 08:44 GMT

Dax 40 Finds Support

The Dax 40 whipsaws on concerns about more interest rate hikes. The price action previously failed to clear the high of 15650, forming a double top as it pulls below 15380. A bounce off 15300 right above the swing low of 15250 on the 30-day SMA, suggests a strong enough follow-through to keep the short-term bullish momentum intact. A close back above 15650 would nip the selling in the bud and resume the uptrend while a bearish breakout would cause a correction to the previous consolidation range above 15000.

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