• DAX reversed from key support level 15125.00
• Likely to rise to resistance 15540.00
DAX recently reversed up from the key support level 15125.00 (low of the previous minor corrections (from the middle of April) – strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the previous sharp minor upward impulse wave (v) from March. The upward reversal from the support level 15125.00 continues the active short-term impulse wave 3.
Given the persistent daily uptrend – DAX can be expected to rise further toward the next resistance level 15540.00 (monthly high from April and the target price for the completion of the active impulse wave 3).