German DAX Holding Strong Above Support

Chart Analysis:

The DAX Index continues its bullish trajectory, maintaining a steady uptrend with prices hovering near recent highs. Despite a minor pullback, the overall trend remains intact, supported by key technical levels.

1️⃣ Uptrend Intact with Rising Support:

The trendline (blue) continues to provide dynamic support.
A shallow retracement suggests buyers remain in control.

2️⃣ Moving Averages as Key Support:

50-day SMA (blue): 20,368.88, providing a reliable support zone.
200-day SMA (red): 19,066.15, reinforcing the long-term bullish bias.

3️⃣ Momentum Indicators Reflect Strength:

RSI: At 67.70, showing strong momentum but approaching overbought levels.
MACD: Trending higher, confirming continued upside momentum.
What to Watch:

A sustained move above 21,500 could trigger further upside toward 22,000+.
A break below the trendline or the 50-day SMA could signal deeper consolidation before another leg higher.

RSI nearing overbought conditions suggests traders should watch for potential short-term pullbacks.

The DAX Index remains bullish, with rising moving averages and trendline support reinforcing the momentum. Traders should monitor price action near key support levels for potential buying opportunities.

-MW