DAX 30 (1H) - intraday bullish bias
The German index bounced off the 20-day moving average on the daily chart as global sentiment remains optimistic. The hourly chart offers some short-term opportunities to go along with the underlying trend. After filling the weekend gap, the index has been rising along the 20-hour MA and the trend line which provide support during minor pullbacks. We would expect the rally to carry on towards the previous high of 13370 at least.
Key support: 13200
Key resistance: 13370
The German index bounced off the 20-day moving average on the daily chart as global sentiment remains optimistic. The hourly chart offers some short-term opportunities to go along with the underlying trend. After filling the weekend gap, the index has been rising along the 20-hour MA and the trend line which provide support during minor pullbacks. We would expect the rally to carry on towards the previous high of 13370 at least.
Key support: 13200
Key resistance: 13370