DAX40 PERF INDEX - DAX30 Broke To The Upside The 10200 Price Level - 07/25/2016 (GMT)

The German DAX 30 index rose to 10246 price level after the rebound on the strong support level at 9156 and more recently on the support level at 9306. Over the last two weeks, the index surged more than 4.5% recording a fresh high for the last month.

From a technical point of view and according to the monthly chart, the price tested the 50-SMA and now is trading far away from it. On the daily chart, the index is above the three SMAs (50 – 100 – 200 – SMAs) and a bullish momentum from the technical indicators has been identified. Our expectation is a further upside potential move until the 10370 resistance level and then to the 10520 barrier. The MACD oscillator is rising and is moving in a bullish territory while the RSI is sloping upwards and is above 50.