DAX index is trading around 15,960. In our previous analysis we noted the increased chances of a move higher towards 15,950 which was our first bounce target and the daily candlesticks pointed to at least a short-term bounce. DAX index seems to be pushing higher to at least back test the break down levels of the blue support trend lines. Recent low at 15,707 remains key support for the short- and medium-term trend.
The material has been provided by InstaForex Company – www.instaforex.com
Blue lines- support trend lines
Yellow rectangle- support
DAX index is trading around 15,960. In our previous analysis we noted the increased chances of a move higher towards 15,950 which was our first bounce target and the daily candlesticks pointed to at least a short-term bounce. DAX index seems to be pushing higher to at least back test the break down levels of the blue support trend lines. Recent low at 15,707 remains key support for the short- and medium-term trend.
The material has been provided by InstaForex Company – www.instaforex.com
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