DAX 30 is traded in trading in the green at the time of writing. The price has dropped in the short term but it has invalidated a larger decline. The index is still bullish, so it could resume its major uptrend.
The German stock index slipped lower after its previous swing higher. A temporary decline was somehow expected. Now, the rate has registered a new higher high in the short term confirming strong buyers.
Technical Analysis!
DAX 30 escaped from the major descending pitchfork and now it has taken out the minor downtrend line. Its failure to close the gap up signaled strong bulls and that the index may resume its growth.
Also, its breakout above 15,489 former high signaled more gains ahead. Now it is traded above 15,521 static resistance. Stabilizing above it may really confirm a bullish fly towards 15,603 all-time high.
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