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DAX edges back above the highs seen on Friday

Earlier this year the DAX hit a record all time high on April 2. That was at 18,567. Well, since peaking then the index has dropped back to a more recent low at 17,626, set on April 19. The rebound that has unfolded since then led to a peak at 18,235 on April 29. The latest slip backwards set a low last week at 17,875. The high seen on Friday was at 18,105, before the index closed at 18,001. The higher effective opening today has now seen the DAX just edge past the highs set on Friday. The reasonably positive European data this morning has helped the gains, as has further upside across the US futures. There is a potential double top resistance level still in place though at that 18,235 level, from daily highs on April 24 and April 29. A convincing break above those levels and once again the possibility of the index moving closer to that all time high might come back on the table. The DAX is currently trading at 18,119

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