The Dax 40 rallies as risk sentiment returns.
The index has bounced off last May’s lows around 14820. A depressed RSI in this major demand area has attracted solid buying interest. A close above 15200 may have prompted short-term sellers to cover.
The bulls will have the challenging task of clearing several resistance levels, the first being 15470 on the 30-day moving average. A pullback may test the psychological level of 15000. Further down, 14820 is a critical floor to keep the uptrend intact in the medium term.
