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DAX futures eyeing a slightly higher opening this morning
On Friday the DAX reached a new all time record high at 18,845. It later posted its highest ever daily and weekly close, at 18,772, as it consolidated the break above 18,567 seen the day before. The index futures are currently indicating a slightly higher opening right now. Technically speaking the index is not overbought yet either, with the 14 day RSI just south of 70 (as of the close on Friday). The outlook for an ECB rate cut in June is still underpinning the DAX and so is the hunt for relative value it seems too. The DAX is just now priced to reopen this morning at around 18,795
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