Germany’s DAX 30 claws back previous losses as the economic outlook brightens.
On the daily timeframe, the latest sideways action has allowed the RSI to drop back to the neutrality area, which is good news for a breakneck bull market.
On the hourly chart, strong momentum above the last leg of the sell-off indicates traders’ conviction in buying the dip.
April’s high at 15520 is the main obstacle and a breakout could push the index to a new record high. 15220 is the closest support in case of a pullback.
