DAX – Rejected at weekly falling trend line

TVC:DEU30   DAX Index
Three-week winning streak pushed Germany’s DAX index             briefly above the larger falling trend line earlier today before prices fell back to 10,300 levels.

The falling trend line hurdle stays intact at 10,415 levels.

The daily macd has started losing height, but still well above zero level. Prices could remain stuck between daily 5-MA and falling trend line hurdle before. A repeated failure to take out trend line hurdle would then open doors for a break below 5-DMA and slide towards 10,109 (38.2% of April 2015 high – Feb 2015 low).

On the higher side, only a weekly closing above the falling trend line hurdle would signal a fresh rally towards 10,800 levels.
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