• DAX reversed from support zone
• Likely to rise to resistance level 15800.00
DAX index recently reversed up from the support zone lying between the key round support level 15400.00 (which also reversed the price at the end of May), lower daily Bollinger Band and the 50-day moving average. The upward reversal form this support zone continues the active upward impulse wave (iii) – which belongs to the short-term impulse wave 3 from the start of May.
Given the clear daily uptrend – DAX can be expected to rise further toward the next resistance level 15800.00 (top of the previous impulse wave (i) from the start of June).