DAX40 PERF INDEX - is Ready to Print a Fresh High - Added 16% Since Dec 2016 - 04/03/2017 (GMT)

The German DAX 30 index surged more than 16% since December 2016 and printed the fourth green month in a row. The price is trying to retest the 12404 resistance level, the previous high, and over the next few sessions may surpass it. Since last June 2016, the price is developing within an ascending move supported by rising lows and rising highs.

The technical structure suggests further bullish movement to record fresh all-time highs. On the daily chart, the price is developing well above the three SMAs (50, 100 and 200 SMAs) and the technical indicators are confirming the recent upward momentum. The RSI indicator entered the overbought zone with solid incline move as well as the MACD oscillator rose above the trigger line and is strengthening in the positive territory.