The DAX confirmed on Friday a positive day reversal but only a daily closing tonight above 5532 will confirm a s/t bottom supporting higher levels. The weekly closing was instead well weak.
The indicators of the daily chart are still well negative as well as those of the weekly one keeping the index under pressure the indicators of the s/t charts turned instead all positive supporting a rebound. We started the session with a small gap up, now s/t support area at 5578 – 5464; while above this zone we expect further upside potential.
Possible a test of the 5660 resistance level before the 200 hours line at 5781!!
We stay long.
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FUTURE TREND RESEARCH