The DAX is still consolidating interior the negative day reversal with 5990 – 5760 still the levels to follow in the coming hours. Only a daily closing above 5990 will support higher levels suggesting an overshooting of the 6000 level, move that probably will favour also a breakout of the symmetrical triangle the DAX is in since last October.
The indicators of the daily chart are still positive while those of the s/t ones still show a mixed picture suggesting some consolidation. In the hourly chart we have bearish divergences supporting a positive tone. Possible drops are therefore corrective and buying opportunities, especially close to the 5700 area. We remain on the sideline following the inside day.
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