Equities surged as US Treasury yields eased amid improved risk sentiment. Despite its choppy path lately, the Dax 40 remains up from the daily chart’s perspective. The top range (15200) of the late January consolidation has managed to contain multiple pullbacks, which suggests a strong bullish interest. A break above 15600 has thrown out the remaining bears and may open the door for an extended rally above the ceiling at 15650. 15450 is the closest support as the RSI shot into overbought territory.
