• Dax reversed from support area
• Likely to rise to 13760.00

Dax index recently reversed up with the daily Japanese candlesticks reversal pattern Hammer from the support area located between the key support level 13075.00 (former multi-candle support from November which also reversed the price earlier this month), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from November.

Given the prevailing daily uptrend and the slightly improved risk sentiment on hopes the Brexit agreement can still be reached in the agreed time period –   Dax index is likely to rise further toward the next resistance level 13760.00 (top of the previous medium-term correction (B) from the middle of December) – from where the index is likely to correct down.