The Dax 40 steadies as investors hope that the ECB is in the later stage of its hiking cycle. Sentiment saw a boost after a bounce off the 20-day SMA (15000), potentially sending the index to a 12-month high (15720). The rally has tempered its pace after an overbought RSI showed signs of overextension. 15350 is the first support and a bounce would carry the bullishness to the aforementioned target. A bearish breakout, however, would force leverage positions out and send the price back to the moving average now at 15140.
