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What does the price action tell about the DAX above 18k?

An update here earlier this afternoon noted how the DAX had managed to forge out a new record high today, at 18,044. That new high had just surpassed the interim, intraday double top set recently at 18,038 and 18,039. The fact that it only lifted a mere 5 points above that and then turned back below 18k again is rather unsettling for the DAX bulls. What it does indicate here, is a degree of price exhaustion above 18k and that could be a warning sign. The index could not close above 18k yesterday (17,987) and right now it seem to be at risk of repeating that this afternoon. At the same time, there is still almost an hour or so left of live trading before we might conclude on that. Either way, it looks like upside momentum is struggling above that level though. The DAX is just now trading at 17,990 

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