DAX Up

Germany30 has been showing signs of strength in its recent performances. This market has recently shown a rejection off the 11845 support, which has given price the bullish push to break through the descending trendline.

Price has also just broken above the 20 & 50 EMA's. Currently, price is back at the 12375 resistance, where patience is advised while watching for a potential break. A break followed by a retest would allow long positions. I would be looking for price to reach back to the 12825 resistance area. On the other hand price could very well show a rejection.

This week would be interesting for all indeces as they started on a positive note on Monday. It seems that with the coming of September, the market has again regained its volatility and excitement.

Chart: DAX D1