In fact, this market environment seems very favourable for a push higher, and we could potentially see the German index once again attack its current all-time highs of around 13,600 points.
In our opinion, such an upwards move seems very likely, and the region around 13,600 points acts as stop-over up to the next target, which will be around 13,800 points.
The region around 13,800 points is of higher interest, with focus on the expiration of DAX options at the EUREX next Friday, and the elevated Open Interest at the strike price of 13,800 points.
Still, bulls should be at least aware of the forming divergence in the (14) on H1 which points from a purely technical perspective to diminishing momentum and could trigger, if bears gain at least short-term control, a stint down to 13,380/400 points.
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