The DAX has recouped recent losses as risk sentiment made its way back in the market. By clearing the previous crash point at 15270 the price action has confirmed the bullish MA cross.
The index then established support at 15100. As it climbs back towards the peak at 15520, an overbought RSI could be the rally’s Achilles’ heel.
Profit-taking near the resistance level may trigger a brief retracement.
On the upside, a breakout could extend the rally to a new record high.
