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DAX extends gains to above 15,300

The DAX is making further progress today. The index reopened higher, at 15,246. It had closed yesterday at 15,229 after what was another positive session for the German benchmark. It has risen to 15,315 earlier, but below that high as I write. The next potential resistance level of note from here could be correction level at 15,355 (38.2% of 16,528 to 14,630). Of course, the DAX has to get there first, but at this stage the thoughts here; are that this is a correction and not yet a new dynamic upside trend. At the same time, with the year end looming ever closer, the talk of a Santa rally is already doing the rounds. The DAX is just now trading at 15,285
 

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