• DAX broke resistance level 15300.00
• Likely to rise to resistance level 15800.00
DAX index recently broke above the minor resistance level 15300.00 (which has been reversing the index on a daily basis from the start of April). The breakout of the resistance level 15300.00 was preceded by the breakout of the resistance level 15000.00 and the daily up channel from December – which accelerated the active impulse waves (iii), 3 and (C).
Given the latest improvement in risk sentiment and the clear daily upternd – DAX index can be expected to rise further toward the next resistance level 15800.00 (target price for the completion of the active impulse wave 3) – followed by the resistance level 16000.00.