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DAX extends rebound to above 18,400- where is the next potential resistance level?
The rebound in the day today has now delivered an extension to above 18,400 a moment ago. The earlier push back above the noted 200 day moving average (now in place at 18,263) has seemingly gathered momentum as the price has lifted higher and higher. The rebound in the DAX amid a similar gain seen in the CAC 40, but from this naked eye, it is definitely the DAX that has led the way. The next potentially important resistance level now is the 50 day moving average. That is in place currently at 18,449. So, it remains to be seen, whether the index can first test that level and then what might happen if it does. The DAX is currently trading at 18,415
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