INFINOX_Capital

DAX 30 - Back to 3-month high

Long
XETR:DAX   Indice DAX
DAX (D) - medium term bullish bias

The latest surge can be seen as the third wave of a bullish movement that could last till the end of the year. The first wave found support after a 50% retracement of the initial impulse. The index is testing the critical resistance level of 12650 on the daily chart. While there is no sign of pullback yet, a doji at today's close could be a heads-up. The moving averages may act as an area of congestion where trend-followers would be getting in at a discount.

Key support: 12400
Key resistance: 12880

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