The Dax 40 treads water as major central banks are set to update their policies.
An initial surge above 15500 has prompted the bears to cover. Then the index found support at the 38.2% (15550) Fibonacci retracement level while an oversold RSI attracted buying interest. And that is a sign of underlying strength in the rebound.
A bullish MA cross indicates an acceleration on the upside. A break above 15840 may send the price to the all-time high at 16300. In case of a deeper pullback, 15300 is a critical level to keep the rebound relevant.
