DAX: Still within a downtrend but held the Monthly support.

The index remains within the very long term 1W Channel Down (RSI = 37.940, MACD = -255.000, Highs/Lows = -398.7857, B/BP = -982.1060) but held the 1M support zone of 11,200 - 11,400 and we can assume that a last week's sideways trade is an attempt to price a support base on the long term in order to continue the 1M Channel Up. 1D is expected to start printing Higher Lows, which will aim at breaking 11,850 to avoid creating an Ascending Triangle. Our medium term TP set remains 12,000 and 12,100.