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DAX extends gains above 18k

The positive European equity market session has not looked back much at all so far today. All the major indexes are holding and extending their gains just now. The CAC 40 is back above 8,100 and as we know, the FTSE 100 has set new records today. Meantime, the better than forecast German PMI data has now pushed the DAX back above 18k. The index opening this morning at 17,861. The index had closed last night at 17,860. It has now risen to a session high a moment ago at around 18,075. There is a potential resistance level a little higher up though and right now that is set at 18,118- 21 day moving average. The price action today is a clear sign that the recent downturn from the all time record high, at 18,567 might be coming to an end. That is probably open to debate though, but the recent run of losses does seem like it is giving way to a resumption of the former trend, at least for the time being anyway 

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