The German index stagnates as the earnings season kicks off in Europe. Last week’s sell-off below 15180 was a sign that buyers took profit after the index made a series of record new highs.
On the daily chart, the uptrend is so far intact as the price action hovers above the 20-day moving average. 15410 is the immediate resistance and a bullish breakout would resume the upward movement.
However, a breach below 15090 could dent the short-term optimism and trigger a new round of sell-off to 14800.
