DAX fills the gap and backs off

As so often is the case, we have seen another technical move in the DAX this morning. The price action has seen the index rebound from its opening lows (15,184) and then fill the gap noted here in the previous update. In fact, it went a little further than that, rising to as high as 15,257, some 10 points above where it closed yesterday, at 15,247. Nonetheless, it has now filled that gap and that is why I make a point of highlighting these technical moves here ahead of when they so often unfold. So, now having filled the gap, the DAX is backing off closer to 15,200 as I write this update. That is not to say the topside is finished with, because that cannot be ruled out yet. At the same time, it might have of course. The DAX is just now trading at 15,225