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Dax 40 Consolidates Gains

The Dax 40 steadies as investors eye the Fed and ECB duo’s decisions. On the daily chart, the index is still hovering in the February 2022 sell zone around 15240. The RSI’s double top in the overbought area and a brief venture below the psychological level of 15000 has shaken out the weaker hands. A close back above 15240 would signal renewed strength and momentum buying could drive bids towards 15600. Otherwise, 15070 is a fresh support along with the recent swing low of 14900 as a second layer of defence.

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