Improved risk sentiment post-NFP continues to support the Dax 30. The index is grinding the 30-day moving average as the bulls consolidate their gains near the record high.
16000 has become a key hurdle as high valuation makes buyers think twice before committing more chips. Though layers of support indicate an upward bias and may offer some peace of mind.
A bullish breakout would trigger an extended rally when momentum traders join the party. A fall below 15650 would prolong the sideways action to 15500.
