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Will the DAX have another look at 16k again today?

The European stock markets will very shortly reopen for live trading. The DAX came very close to reaching the coveted 16k handle yesterday, when it topped out at 15,998. So, as you can see there was some stiff resistance there. The index then dropped back to 15,945, only to rebound slightly into the close, where it later ended the day at 15,957, with a gain of 57 points on the session. The EUR/USD is back above 1.09 right now this morning and that might be a supporting factor when the Index reopens in a couple of minutes. The rebound trend remains intact, but repeated failure at 16k might cause a deeper pullback than we saw yesterday. We shall just have to see how the price action unfolds, when live trading resumes shortly. Just ahead of that, the DAX futures are pricing an unchanged start to the session today 
 

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